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Double bottom or not, wait and see, 50% chances, maybe 51% chances.
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JFR wrote:ES daily. Down beneath the EMA 20. A serious test for the bulls.
2020-09-08_06-27-22.png
Need decisively break the Friday's low otherwise it's simply a double bottom here. We'll know soon upon.
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Testing the Friday's low, let's see if bulls can make a double bottom (slightly lower low is OK) here. Usually big gap down means sharp rebound at open at least to let the 5 min EMA20 to catch up before the next step either further up or resume down.
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So far it's a typical break down then sharp reversal. Let's see whether bulls can push to EMA20 which if they can then bears would be half dead today.
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Maybe a triangle or descending triangle here, bias is just a little bit down.
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