Time to re-test some support areas. First stop 4800.
We're still seeing lots of bearish divergence on several indicators and overbought conditions.
This HS formation is a sign of a coming correction to test 4800 levels and possibly lower. We still may see it go a little higher but with so much downward pressure from the ema's on larger time frames the bulls have little chance of breaking out above the 5200 lvls.
This HS formation is a sign of a coming correction to test 4800 levels and possibly lower. We still may see it go a little higher but with so much downward pressure from the ema's on larger time frames the bulls have little chance of breaking out above the 5200 lvls.
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