The previous impulsive scenario has been invalidated due to the wave (2) and wave (1) overlap. The current scenario is still bullish, but this look like a last chance for bulls to do their thing, otherwise the bears will push the market below $5,820 support in a no time.
Comment:
Anything under $5,920 will invalidate bullish impulsive scenario.
Comment:
In order for bulls to recapture the uptrend flow, the level of $9,222 must be broken first.
Trade active:
so far, so good: the first resistance broken.
Comment:
It looks like the demand was beaten by the local resistance at the level of $7,500 and the chances for a rally are getting very thin.
