Big risk-off of all global markets due to the outbreak of the new Covid variant.
Market structure is still intact.
The VWMA will cross down SMA50 which means a correctional period.
A bearish period will commence when SMA50 crosses down SMA200 which implies a simple death cross pattern.
I expect the floor to be around 50.5-51k as the trendline support has bounced twice in recent times (Jul 21st, Sept 28th).
Market structure is still intact.
The VWMA will cross down SMA50 which means a correctional period.
A bearish period will commence when SMA50 crosses down SMA200 which implies a simple death cross pattern.
I expect the floor to be around 50.5-51k as the trendline support has bounced twice in recent times (Jul 21st, Sept 28th).