W Formation formed and broke above. The big warning and problem is that there was low volatility and the market was moving in a continued sideways range. This is concerning because the buyers are not too strong which is why we now had a large bearish engulfing candle showing how the sellers are running the show. 7>21 but <200MA RSI <50 - Turned bearish Target 2.000 But this is still a medium probability trade
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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