- On Weekly Timeframe, I believe this is would be downtrend until it broke above the recent down trendline.
- Indicators tell me a large seller pressure would be on the way.
Indicators :
- DMI : -DI (sell power) is rising over +DI (buy power) while ADX (momentum power) is also rising
- ADP : Tell how the money flow in this current market and for now it's down in bear zone.
- MACD : still on downward momentum selling pressure. MACD line is rejected from entering bullish area.
Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion, any relation between my posts toward any of your trading decision would be on your own consequence. please feel free to share what your thought on comment section.
peace.