- The weekly chart shows important TL support.
- Break down from this TL may result in continuation of downmove.
- Early sign of near term mood change to bullish would be a close above 5 WEMA currently @ 1380.
- The last leg on the weekly chart lends itself to peculiar TL construction on daily chart.
- There is a chance of prices taking that support, and head up.
- We have a couple of levels (1387, 1432) which would have to be taken out for this upmove to sustain.
Thank you!
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