Sell signal in full effect as bulls are unable to break resistance at long-term UTA.
Support at short-term LTA looks to be non-existent with next expected support at LT (~4450), then 'expected average' (H4 200EMA).
Based on 11/12 prediction, we may see a few weeks of sideways action to help sustain until the next daily divergence period; this would take place between long-term UTA and 'expected average'.
This price action would also assist in setting up for the weekly convergence period which likely triggers a bear market. I believe this could happen mid to late December.
Support at short-term LTA looks to be non-existent with next expected support at LT (~4450), then 'expected average' (H4 200EMA).
Based on 11/12 prediction, we may see a few weeks of sideways action to help sustain until the next daily divergence period; this would take place between long-term UTA and 'expected average'.
This price action would also assist in setting up for the weekly convergence period which likely triggers a bear market. I believe this could happen mid to late December.
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Related publications
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.