If you look on my previous charts, you can see why this idea does make sense. We have our comeback from previous lows, that is a market correction following with another distribution period. On the upper levels, we can see strong resistance levels around 9300-9500. We have EMA 200 settled around 9100 level, and turned into strong resistance as well. Bullish momentum losing its steam after weekly closure and daily closure on Sunday evening. Death cross of EMA 50&100 above us.
Support levels to watch are in yellow and strong resistance levels in blue. Lets see how it plays out.
Support levels to watch are in yellow and strong resistance levels in blue. Lets see how it plays out.