For perspective only, my bias is bullish and the fundamentals are bullish with institutions getting in. However, can't deny this formation. That being said, long-term speaking, as long as it stays above 7700 or so, the structure since March is bullish overall (believe it or not). This is a pivotal point due to the fact we are close to a major resistance that keeps getting tested and keeps getting bought up by the bulls, so it could go either way. This idea is bearish but only if it confirms in the next few days. We topped out last June around the 21st, so not sure if history is repeating itself. No matter where it heads to from here if you are using leverage, use a low amount, because the gains will be high in time if you stick with your plan. Now, it can also fake out and go to the 8500 support and test 10.3k again. Hope this helps!
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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.