The CME has formed a weekly bearish engulfing candle if price don't go above this level until Friday's close. A weekly bearish engulfing candle almost always indicates a change of trend downwards. Maybe the CME gaps will be filled as greater than 90% have been historically filled. The few that were not filled like the 3.6k and 9.6k, might have been closed internally by the CME .
Blue boxes are unfilled gaps.
Blue boxes are unfilled gaps.
Note
Worse close than expected. I call 58k top for this bull run, maybe a couple of month of bear trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.