4H demand zone was reached, and price initially reacted strongly with a bullish close. However, buyers lacked momentum, and with fundamentals like Friday’s UoM data coming in lower than forecast, confidence in the economy weakened, leading to a drop.
From a technical standpoint, price will seek lower demand, but for shorts to be confirmed, the invalidation point must be broken, not just spiked. Let’s wait and see how the market unfolds.
Blessings,
T
From a technical standpoint, price will seek lower demand, but for shorts to be confirmed, the invalidation point must be broken, not just spiked. Let’s wait and see how the market unfolds.
Blessings,
T
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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.