Trend line break led to a liquidation move to the support. Responsive buyers had defended the 7800 level and pushed right back to resistance. We may see a retest of the trend line but as long as the price below it the sell side remains in control.
All the main moves happened before the day session making it a low opportunity day.
There is plenty of reward to go further down, however, the market is holding to see the outcome of the FOMC meeting. Until then the drift between inflection points is just a ping pong game for Algos.
9/16/2019
All the main moves happened before the day session making it a low opportunity day.
There is plenty of reward to go further down, however, the market is holding to see the outcome of the FOMC meeting. Until then the drift between inflection points is just a ping pong game for Algos.
9/16/2019
