The 2 light blue trend lines are what I class as speculative trend lines. They foretold/forecast the bottom of the market perfectly @ 5100.
The market looks weak on a daily chart as we have to tackle the inside bar from the 26th Nov and the concept of lower lows and lower highs, indicating bearish momentum.
A close above 5366 will lead to a bias change in this market at present, it is better to resort to your lower TF's.
Comments
The market looks weak on a daily chart as we have to tackle the inside bar from the 26th Nov and the concept of lower lows and lower highs, indicating bearish momentum.
A close above 5366 will lead to a bias change in this market at present, it is better to resort to your lower TF's.