The previous impulsive scenario has been invalidated due to the wave (2) and wave (1) overlap. The current scenario is still bullish, but this look like a last chance for bulls to do their thing, otherwise the bears will push the market below $5,820 support in a no time.
Note
Anything under $5,920 will invalidate bullish impulsive scenario.Note
In order for bulls to recapture the uptrend flow, the level of $9,222 must be broken first.Trade active
so far, so good: the first resistance broken.Note
It looks like the demand was beaten by the local resistance at the level of $7,500 and the chances for a rally are getting very thin.
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Related publications
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.