For the 7th consecutive week we’ve had all red candles making lower lows.
We are def in bear market but we might expect rally towards 200EMA.
With the currect economy I don’t believe the market has enough strenght to reverse the trend and reach new all time highs. Very likely after touching 200EMA on daily chart around 4350, we go lower to 200EMA weekly chart- 4616. There will be lot of support at this level.
It’s not a trading advice
We are def in bear market but we might expect rally towards 200EMA.
With the currect economy I don’t believe the market has enough strenght to reverse the trend and reach new all time highs. Very likely after touching 200EMA on daily chart around 4350, we go lower to 200EMA weekly chart- 4616. There will be lot of support at this level.
It’s not a trading advice