December Down - January UP?
The last few days have been very low volume - especially if you look at Volume Profile, you can see that at around 19400 the volume is tiny. The current feeling is that there is not enough bravery to take us above 20k and beyond without a big catalyst or a big green candle.
I have drawn this scenario where we correct to somewhere around 16,000 and then resume the trend upwards from January. There is a chance we go down to 14,000 or just blast up above 20,000 in December, who knows. If something big happens, I might change my view.
Please let me know what you thought of this analysis.
I have drawn this scenario where we correct to somewhere around 16,000 and then resume the trend upwards from January. There is a chance we go down to 14,000 or just blast up above 20,000 in December, who knows. If something big happens, I might change my view.
Please let me know what you thought of this analysis.
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