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Evening market action continues the daytime “hollow” move: it pulled back from around 63,200 to about 62,000, then rebounded to around 63,000. On the daily timeframe, the “hollow” pattern shows a contraction in volume and forms a bearish candle. On the four-hour timeframe, the “hollow” incremental move is currently showing a long lower wick bearish candle and is trading below the lower band. On the hourly timeframe, the “hollow” pattern shows a contraction in volume and is currently a cross-like candlestick with a long upper wick. The trend is still running downward.
Early Tuesday:
For the price in the 63,000–63,500 area, look at the 61,800–61,300 area.
For the price in the 1,790–1,810 area, look at the 1,755–1,735 area.
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