However, it has not taken the 50 day even though it is inside the . All moving averages inside the have to be taken for it to be truly or once a trendline is broken.
Although a break out from a is indicative of a potential change in the market trend, I would advise that we exercise caution. My reason, is that the 50 day is a resistance that needs to be broken as long as it is within the .
Secondly, the most recent failed attempt at the upper which stands at 6908.5 needs to be taken or broken by the upward price action. This s currently very close to the 50 day .
Conclusion: This action that we are currently experiencing can only be confirmed if the price action breaks upwards through 6908.5. I will remain in my short position until these criteria are met.