The key price action resistance level we discussed at the start of the week has now held with a large daily chart bearish engulfing bar.
Price is now rotating lower and is looking to move into the next daily support level around 1862.50.
This market has now formed a series of lower highs on the daily chart.
If we can see this next support level break with a new lower low, then the bears would look to be in full control and the trend higher that has been in place for the majority of this year would have shifted.
Price is now rotating lower and is looking to move into the next daily support level around 1862.50.
This market has now formed a series of lower highs on the daily chart.
If we can see this next support level break with a new lower low, then the bears would look to be in full control and the trend higher that has been in place for the majority of this year would have shifted.
