The only signal that makes me lean more toward a fakeout rather than a clean pullback is the distance between the 100 and 200 moving averages and the current price.
At the moment, price is struggling around the 50 MA, and there’s a clear gap between it and the longer-term averages.
We need to give the market some time and see which direction gains confirmation. Until then, we stay patient and watch for clearer signals.
At the moment, price is struggling around the 50 MA, and there’s a clear gap between it and the longer-term averages.
We need to give the market some time and see which direction gains confirmation. Until then, we stay patient and watch for clearer signals.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.