DOW and E-mini Daily chartsBoth US markets consolidating under the Weekly 50% level, and below all higher timeframe levels.
The Trend remains down, but with March Contracts expiring next week, there is often a tendency to rise upwards during the week of expiry.....
And Friday's trend is going to be defined by the Support levels.... above and expectation price is moving back towards the 5-day highs.
Below and it's pushing down into the Weekly lows (5-day lows)
Even though the bigger picture is weak with the consolidation below the Weekly 50% level, the 5-day pattern is currently above the 5-day 50% level, so at this stage the bias is to move higher, until the opposite occurs... (Break of support)
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