Daily Chart |
What can you expect:
- Market have a strong probability to trend lower (Lower high & Lower Low - Bold Blue lines)
- Market still have a vertical Bearish trend line (Bold red line)
- Market to consolidate for the time being before leading sentiments to the right direction
- If market breaks above the Purple & two thin blue lines in that area, market have good chance for a trend reversal
- If market breaks below the last Bold Blue & Thin Blue lines beneath, market will have a good chance to continue the current trend
"One of the jobs of a good trader is to imagine alternative scenarios | The market is totally impersonal" - Bruce Kovner (one of the best commodities trader)
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