Today, many bloggers are advising to take profit on all long positions and start shorting, the reason being that yesterday's daily candlestick formed a doji, and today it formed a small Bearish line, indicating the end of the Rebound.
This judgment of turning bearish is a bit aggressive. Today is Sunday, the US stock market is closed, so it's normal to have little volume. Although the 4-hour chart shows a death cross, it's still far from the zero axis, so there's nothing to fear. The support at 97700 and 97450 is still holding, so it should be a long position or a re-entry on pullback,,. 😊
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Today, many bloggers are advising to take profit on all long positions and start shorting, the reason being that yesterday's daily candlestick formed a doji, and today it formed a small Bearish line, indicating the end of the Rebound.
This judgment of turning bearish is a bit aggressive. Today is Sunday, the US stock market is closed, so it's normal to have little volume. Although the 4-hour chart shows a death cross, it's still far from the zero axis, so there's nothing to fear. The support at 97700 and 97450 is still holding, so it should be a long position or a re-entry on pullback,,. 😊