Looking at the daily bands, we also see the important change of character in this market.
Where the buyers were previously trading with a strong bullish tone above the upper band and in the upper half of the bands, constantly finding significant support at or just through the middle, now, we have seen over the last few days trading in the lower half with weak indecisive trading below the lower band. It suggests that the buyers certainly have lost the strength which saw it test the round number 5000 and with some solid bearish closes below the bands could see the previously mentioned sell off come to fruition.
Where the buyers were previously trading with a strong bullish tone above the upper band and in the upper half of the bands, constantly finding significant support at or just through the middle, now, we have seen over the last few days trading in the lower half with weak indecisive trading below the lower band. It suggests that the buyers certainly have lost the strength which saw it test the round number 5000 and with some solid bearish closes below the bands could see the previously mentioned sell off come to fruition.