Here is a 4 Hour chart posted above
Bearish Bias
- Price Already rejected the downtrend line
- Which is also a 50% retracement area
- Price is moving in a bearish correction pattern
- Most likely price will be coming to touch the horizontal support drawn
Bullish Bias
- The US will announce another rate hike which is expected to come next week
- This information is already priced in
- This could be a late rate hike for this year
- This can lead investors to rush back into equities as they will try to recover before year-end
A good buy
