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"It is what it is Department" Short term momentum is bullish, we got all the signals of a bottom, the next question is will it sustained? we are too early for that, for me the daily trend following sell setup fail first before I can say the bottom is in.
First day $NYMO >0. short term turning bullish plus a big positive divergence on $NYSI.
For the bottom to sustain, Hi/Lo index must stay above 0 line, for now that is not the case.
Trend following setup, sell the rip, not overbought enough just yet. the higher the better sell setup in this case.
Intraday, positive price action, expecting higher trading price unless we Trade under 38.2% then things might change and reverse down sooner. remember it is end of month window dressing also. Trade well, Peace!
My comments are for entertainment/educational purpose only. NOT a trade advice.