The market is in the correction mode. The recent bear flag is intact. A new leg down is expected for the pattern to succeed.
Buyers need a motivation to create a strong moment to slice through 20 MA. The first test found responsive sellers.
The month end is approaching and the Memorial Holiday may lift the buyers spirit to make the move.
The sell side sees the 200 MA as a magnet. It is a clear objective.
The current location suggests a choppy 2-sided activity within the bear flag.
05/23/2021
Buyers need a motivation to create a strong moment to slice through 20 MA. The first test found responsive sellers.
The month end is approaching and the Memorial Holiday may lift the buyers spirit to make the move.
The sell side sees the 200 MA as a magnet. It is a clear objective.
The current location suggests a choppy 2-sided activity within the bear flag.
05/23/2021
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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.