I pointed out last Week, if US markets had reached their Friday highs I would be looking for a 2-day reversal down early this week.
Because price is currently above the 5-day 50% levels, then Monday can go higher.
Trade on the side of the 5-day 50% level and support"
Premium Trader
DOW Weekly and 5-day pattern
As per Weekly report, I'm looking for global markets to begin to unwind and move back towards their Monthly 50% levels.
Monday started above support and the 5-day 50% level, but once price began to trade below the 5-day 50% level price struggled to move back above.
Expectation price is rotating down towards the Weekly 50% level this week.
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