SIGNS OF WEAKNESS
Updated
Hi Guys, MrBanker is here.
SP500 had been in a long uptrend starting from June 2020. During this period, the trend was succesfully tested 7 times. However, that trend has changed after exactly 19 Months.
- This was the first sign of weakness in the trend.
Additionally, the price-action broke below 200D EMA since FEB 2020.
- This is the second sign of weakness.
Currently, there is a trading war between bears and bulls, therefore, 200D EMA is tested again to validate a bullish or bearish trend.
I cannot judge the direction of the trend based on this analysis but there is an obvious bearish sentiment in the markets.
Trade Safe,
MrBanker
SP500 had been in a long uptrend starting from June 2020. During this period, the trend was succesfully tested 7 times. However, that trend has changed after exactly 19 Months.
- This was the first sign of weakness in the trend.
Additionally, the price-action broke below 200D EMA since FEB 2020.
- This is the second sign of weakness.
Currently, there is a trading war between bears and bulls, therefore, 200D EMA is tested again to validate a bullish or bearish trend.
I cannot judge the direction of the trend based on this analysis but there is an obvious bearish sentiment in the markets.
Trade Safe,
MrBanker
Trade active
Obvious is obvious... Broken trend was the first sign followed by lower highs.Trade closed: target reached
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