Dow futures are approaching their 50 day SMA after a rather aggressive bear market rally these past few week.
The ORANGE and BLACK channels overhead will act as resistance along with the 50 day SMA.
The market this past week was broadly oversold which is believed to support this relief rally.
All technical indicators point to a longer term bearish scenario at this time, at least until we start to see some technical and fundamental changes.
The ORANGE and BLACK channels overhead will act as resistance along with the 50 day SMA.
The market this past week was broadly oversold which is believed to support this relief rally.
All technical indicators point to a longer term bearish scenario at this time, at least until we start to see some technical and fundamental changes.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.