Bearcity
I'll Take "What Is A Bear Trend" For 500 AlexHello all,
This is just an update from my last chart better representing levels, just in case we continue our bearish trend.
This chart, compared to our last, is charted on the daily rather than the 4 hour time frame.
We have touched basis with our trend and rejected, if we don't make another move to break out in the next week i suspect we will be descending deeper/ possibly retesting our lows in 2018, but that is unlikely as of now.
(At this moment in time my last chart is still active, but if our total drops below ~228B we are most likely continuing our bearish trend)
Grey Lines represent Fib levels.
(Fib levels starting point is December 2018 Lows/ ending point June 2019 Highs)
Red lines Represent Support and resistance zones.
If we fail to break out of our long standing bearish trend, represented by the Red line directly above our candle stick patterns, we will most likely head down for lower lows during February-March.
In my opinion it is not wise to be over leveraged in either direction at the moment as we are at a turning point in the market.
Feel free to comment and share your views.
As Always DYOR and safe trading.
