"When we look at the support for Thursday, it's trading around the 5-day lows.
And we start to begin to see a shift and drop of timeframe levels, and the 5-day high isn't that far away either.
5-day 50% level is dropping, but the 5-day high is always the first step in a breakout or the beginning of change of direction. (rotation back towards July 50%)
Of course certain things need to align....like price remaining above the 5-day lows, and follow through.
Once again trade on the side of support"...
DOW Daily and 5-day pattern
Thursday test support and moves back towards the 5-day 50% level.
The 5-day 50% level on Friday is the trend guide for the rest of this week, along with any potential breakout of the 5-day highs.
Keep in mind the rotation back towards July's 50% level isn't that far away, as part of a short-term counter-trend move.
Note: 4th July on Friday is a public holiday in the US, so those levels will be of interest for next week.
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