Weekly chart:
Up until now, there has still been no decisive change in this trend size. The market continues to be trendless after the break in the trend and seems to be picking up its movement again after the correction. The Fed did not produce any decisive results either, whereby the last weekly candle seems to point more to the prices continuing to fall.
Daily chart:
The downtrend is more intact than ever in the daily chart. Since the Fed meeting, the market is clearly transitioning back into its movement. Currently, the chances are rather on the lower side.
Hourly chart:
The downtrend from last week was interrupted when the point three was broken at 16442 points, and since no new trend has formed yet, the index should be considered trendless in this trend size. Therefore, the sidelines are the safe bet for now.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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