We stated that since the price broke below the 200MA, that we entered and have remained in a bear market.
And during bear trends, the market tends to zig zag along the way with strong downside pushes...
Right now, the price is heading up to retest the most recent resistance. This is normally, where traders and retail traders will buy in and believe the market is heading up.
But this is where we need to be cautious with our decisions.
Yes we will see upside in many stocks, but we mustn't think this is the start of the bull market UNTIL we see the price go above the 200MA...
The target for now remains at 56,483
And during bear trends, the market tends to zig zag along the way with strong downside pushes...
Right now, the price is heading up to retest the most recent resistance. This is normally, where traders and retail traders will buy in and believe the market is heading up.
But this is where we need to be cautious with our decisions.
Yes we will see upside in many stocks, but we mustn't think this is the start of the bull market UNTIL we see the price go above the 200MA...
The target for now remains at 56,483
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)