NQ Short - Failure to break back into channel

2019年12月6日

Higher volume moving to the downside, looking like the current ascending wedge pattern is distribution and waiting for a further move down. Confirmation on lack of strength to break back into the ascending channel it recently broke from. Trade talks going through cycles which affects this index. Strong bounce on the 4H 200SMA, looking at how price reacts there, if this trade is confirmed. Potential to reach 8100 - 8000 level for a nice swing. This market can be tricky even with bad news, the market continues to move up, so watch carefully.