Possible bounce up (unlikely)
***This is not financial advice***
After a leg up reaching a new HH we are looking for a bounce up to break 4H 50 EMA. which could indicate the beginning of an uptrend.
However, do your research and notice the DJI VIX and the DXY.
The DJI is struggling to regain the initial HH.
The Dollar is reaching an oversold on the RSi which could indicate the beginning of strength.
The VXI is also bottoming out on the RSI which could indicate shorts.
as we sit it is too risky to enter a trade. looking for a breakout or bounce back from the 42350.
After a leg up reaching a new HH we are looking for a bounce up to break 4H 50 EMA. which could indicate the beginning of an uptrend.
However, do your research and notice the DJI VIX and the DXY.
The DJI is struggling to regain the initial HH.
The Dollar is reaching an oversold on the RSi which could indicate the beginning of strength.
The VXI is also bottoming out on the RSI which could indicate shorts.
as we sit it is too risky to enter a trade. looking for a breakout or bounce back from the 42350.
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