Prices came down today as expected but remain above the critical level of 2764. Selling could accelerate if this support level breaks but if it holds then it means there is still room for one more leg up. Also, there is a bearish cross on the daily MACD oscillator and that is normally a reliable indicator or downside to come.
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Short Term Trend = Bullish trend being challenged
Medium Term Trend = Bullish
Long Term Trend = Bearish trend being challenged
* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking
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