while it looks gloomy, lets consider the precedent established in the past few weeks. Between 5700 and 5860 we have 2 volume shelves, where we've seen an increase in buying volume. Couple this with the converging anchored VWAPs and a 150 Daily Moving average hovering there, I think we have a good basis to at least pause in the "sky is falling" narrative. It could very well be falling but its not confirmed. This level is key, IMO.
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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.