After confirmation the reversal from the formed by SMA50 and SMA100, the price could not develop the upward movement. The market moves sideways and it seems logical. We don’t have any news which could change the supply/demand. As a result, the market has no reasons for falling or moving upward. Big players are not active too.
If the market does not have support from outside, by news or active buying, the sideways movement will be continued. Also, there is no support for sellers.
The indicators confirm the range market conditions.
histogram is at the signal level. line of DMI indicator falls and it tells us that we should not expect strong movements now.
Even if the price moves upward, there will be a between 4000.00 and 4200.00 levels. For breaking it, the market will need fundamental support. Without it, we will be able to see a bull trap one more time.
In order to get the whole picture for this market, I advise you to read my previous posts about . They are still workable. You can find them in the related idea.
If you like my work, please support it by your LIKEs. It will motivate me to stay with TradingView.
Published at Sat, 09 Mar 2019 17:44:05 +0000