Poor health kept me out of action for a few days.
Looking at charts and finding it closing below 5DMA second day in as as many days inclines me to say that the "much anticipated" move to sub-5350 has begun:
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The major support in this journey is the brink of 5447-5527 gap and I anticipate the A of this C4(ABC) to be
A=5815-5530=285 or 5815-5445=370
Although two closures below 5DMA and bearish MACD (12,26)cross inclines me to this bearish Count,further confirmation would come from 5/10DMA or 5/10DEMA bearish cross.
Upward spikes should be used to create shorts with SL at 5815 and target 5530/5445
Looking at charts and finding it closing below 5DMA second day in as as many days inclines me to say that the "much anticipated" move to sub-5350 has begun:
.png)
The major support in this journey is the brink of 5447-5527 gap and I anticipate the A of this C4(ABC) to be
A=5815-5530=285 or 5815-5445=370
Although two closures below 5DMA and bearish MACD (12,26)cross inclines me to this bearish Count,further confirmation would come from 5/10DMA or 5/10DEMA bearish cross.
Upward spikes should be used to create shorts with SL at 5815 and target 5530/5445
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