14620 triple support zone worked fine, as market based there and gapped up this morning, probably due to news on the end of the UAW strike for US.
Nonetheless, weekly and monthly candles look bearish, thus IMO market needs to find a base before a good up move. One such possible move might be, market sell off first later, and rebounded sharply; if so, that could signify a near term low. Conversely, if market continue its move up, I will be more inclined to look for weakness for a short (given trend is still down) especially during US session.
Looking for a short if 14720-50 for a move down to 14600 if it is traded first, or a long from 14480 to 14760 on a possible near term low.
Nonetheless, weekly and monthly candles look bearish, thus IMO market needs to find a base before a good up move. One such possible move might be, market sell off first later, and rebounded sharply; if so, that could signify a near term low. Conversely, if market continue its move up, I will be more inclined to look for weakness for a short (given trend is still down) especially during US session.
Looking for a short if 14720-50 for a move down to 14600 if it is traded first, or a long from 14480 to 14760 on a possible near term low.
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