Weekly chart:
By now, a valid downtrend is present in this trend size. This downtrend hit the 20 LP from the monthly chart from below and ricocheted back off, and now seems to be moving into continuing the downtrend. In the past week, the index showed strength once again, and is working on a reversal candle. However, do not let yourself be put off by this; the market continues to remain short.
Daily chart:
In the daily chart, we see the same trend. Here, however, the recovery can be seen a little more clearly. Yet the price is running directly towards the 20 LP from the daily chart. It will be interesting to see whether the sellers send the market back into the deep at this point.
Hourly chart:
Once again, we are trendless in this trend size, since the green uptrend has also been broken once more. So far, a new trend has not been able to assert itself. Again, only the sidelines remain as an option 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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