Bearish cross of the 50/100 day SMA.
Current daily conditions are oversold.
200 Day SMA is acting resistance.
7800-7500-7200-6800-6500-6250-5800-5500 are all possible.
If bulls don't decide to take control we could see a bounce. Market is undecided right now, but personally I'm optimistic. This is looking decent for a bounce, even if it's short lived. Volume precedes price action, so keep an eye on that.
Current daily conditions are oversold.
200 Day SMA is acting resistance.
7800-7500-7200-6800-6500-6250-5800-5500 are all possible.
If bulls don't decide to take control we could see a bounce. Market is undecided right now, but personally I'm optimistic. This is looking decent for a bounce, even if it's short lived. Volume precedes price action, so keep an eye on that.
