Macro Trend is still Bearish....But.....
10.5 - 3.8k is Bearish, there's no disputing that. We broke MS at 6.7k, and are now fighting to regain that swing.
I believe it's imperative Bulls regain/hold that Swing (6775 on this chart).
6536 represents the EQ (50% level) of last month's candle, losing that should see some fireworks.
The importance of this 6775 level cannot be overstated. I'll be watching this week's close, to see how it's dealt with.
As always, practice solid risk management, good luck, and have fun!
I believe it's imperative Bulls regain/hold that Swing (6775 on this chart).
6536 represents the EQ (50% level) of last month's candle, losing that should see some fireworks.
The importance of this 6775 level cannot be overstated. I'll be watching this week's close, to see how it's dealt with.
As always, practice solid risk management, good luck, and have fun!
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.