The combined US indexes had spiked as expected, and hit the upside target. This came with good technical indicator support. But the caveat is that the candlestick looks like a dark cloud cover pattern. In this type of pattern, a gap up is reversed and a close is below the halfway mark of the previous candle body. This is exactly what happened so once can expect the outcome of a Dark Cloud Cover to follow, where there is a reversal. Furthermore, the target upside is also the channel Fibonacci 1.62 target.
Therefore, although the MACD and VolDiv appear supportive, it is likely due for a retracement. New support resistances are put in...
Therefore, although the MACD and VolDiv appear supportive, it is likely due for a retracement. New support resistances are put in...
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