The red monthly candle was about a 30 percent retracement of a move up from March 23, 2020 at a low of about 212 to early September 358 price point that I see as one leg up. September 2020 candle has a long wick about half way or so back up the candle. Buyers are stepping in. This move up will continue higher for next few months forming a second leg up before...
A bearish engulfing candle is being created this month. Wait till end of month for confirmation. If this fails we could go higher and break the 358 level. That said, the fall is here and coronavirus cases are rising my outlook is bearish.
