The rally is strong enough that the market is likely transitioning into a trading range more than a strong bear trend.
This means traders should expect the bears to be disappointed with the rally. However, the bears will expect a 2nd leg down after the formation of a lower high major trend reversal.
It is a low probability that the bears will be able to get a strong second leg down without the low-high major trend reversal.
This means traders should expect the bears to be disappointed with the rally. However, the bears will expect a 2nd leg down after the formation of a lower high major trend reversal.
It is a low probability that the bears will be able to get a strong second leg down without the low-high major trend reversal.
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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.