Generally range bound in the mid term, MT play style will remain as sell R buy S (R n S refer to mid term channel, not those stated in the chart). short term wise, we note a false break, shortly followed by an up channel breakdown. Remain neutral for now as ST bulls have yet to be negated but turn cautious when S breaks.
MT wise we note a false break n reversal which is the reason for the prolong run frm mar 18. ST shows exhuastion n retracement in the making. remain neutral n c how retracement plays out. note S.
MT shows a slant channel range bound movement, MT play style similar to DJ. ST prolong move frm base to top is excessive n retracement likely. remain neutral.
MT n ST similar to DJ.conclusion:
We r currently in a retracement phase of a ST bulls. Due to how the indexes r moving, we might c a rebound, but high chance to turn out as a dead cat bounce. Suitable for intra plays.
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enjoy...Heiwa
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