Context:
The current channel seeems to be broken near the mean and the demandline
which makes this downmove rather a corrective one , than a reversal , however
the bulls need to step up at this point in order to test @80600 and the mean of the doan channel again
to consider this market weak we need to break the demandline and the mean @79400
signs of strenght:
uptrend
broken channel
signs of weakness:
rejection of mean
The current channel seeems to be broken near the mean and the demandline
which makes this downmove rather a corrective one , than a reversal , however
the bulls need to step up at this point in order to test @80600 and the mean of the doan channel again
to consider this market weak we need to break the demandline and the mean @79400
signs of strenght:
uptrend
broken channel
signs of weakness:
rejection of mean
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.