The intra-day charts are showing some signs of strength. It has managed to hit an important 60min 75MA. The concern now for those long the market is the 3-wave pattern that has transpired from todays low. With OB sentiments on an hourly chart we can expect that acceleration can occur for a few hours at least. This scenario would push prices above the 75MA on the 60min chart if the indicator stays its ground. A quick exit tomorrow out of OB would be clues to take intra-day profits or go short.
With the low today not able to exceed the low made on the 9th of June. The option of (green - ii) cannot be eliminated. Right now the market hinges on the lows made in early March and June 9th. Of course the March low would be considered a higher priority for bearish traders to monitor.
MT: DOWN
ST: DOWN
PA: UP
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