Today we observed a drop with low volume before being pulled back by the bulls. Bulls tried to push prices higher only to stop at a resistance line. Bears came in and pushed prices down, making an inverted hammer candle.
This signifies a retracement by the bulls but not enough to turn into a reversal. Therefore, the downtrend continues if our inverted hammer candle closes red later.
Trade safe, trade at support/resistance lines only!
You will have the opportunity when this breaks down or up.
This signifies a retracement by the bulls but not enough to turn into a reversal. Therefore, the downtrend continues if our inverted hammer candle closes red later.
Trade safe, trade at support/resistance lines only!
You will have the opportunity when this breaks down or up.