Daily:- After 3-days of support what really confirmed the weakness was the failure for both markets to hold the weekly channel lows.

These often provide support and rotation back into the 5-day 50% level, but not on Wednesday. The breakdown of the weekly channel lows also confirms continued weakness this week.

3-day cycles are ‘sell’, and the short-term trend is defined by the Weekly 50% level. Until price is trading back above the forward weekly 50% level next week or any week, the expectation is that the markets are heading down….

US report continues below.....