nelsyboy

US500 Possible Path Updated

Short
CURRENCYCOM:US500   US 500
All indicators and moving averages point to bearish. Major point though is the rather bullish day of trading with an engulfing candle to close the day today. However, I would have expected it to stop at the trendline but it did overshoot and as such, that has made me wary of an immediate SELL trade. Therefore, I will wait to see if price consolidates and drops to where I have indicated wave B to be. If it does then it's a definite SELL from there.
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