DJI 7th August

The move up from last weeks pullback, which went a bit deeper than expected by retracing to the area of the weekly S1, has followed the predicted path up quite closely. Now we are faced with a cluster of pivots and a weekly bullish reversal at 25800. I am looking for a move up to that level in the next few sessions and a strong reaction off it, with a negative divergence on the stoch and ideally a bearish engulfing candle to switch short. A weekly close above 25800 would be bullish .

By admin