Dominant TF: 60mins & Daily (15 and 30mins are leading).
Swings: DN-DN-DN
Market direction: mildly down to down.
I have mentioned again and again we were hovering around a key level with Swing indicators oscillating too often. Obviously it is not easy to pinpoint exactly when it will happen with a daily update, and lower intraday time frames have helped a lot.
60mins: Down, looking for support, 797, 781, then...
Resistance at 828, also stall level at lower time frames proved strong enough to halt the bull run. All patterns are now much clearer, and point definitely lower. However, one should not panic yet, and check levels carefully. 797 may hold although it is unlikely. Fib target is 791.
Daily: Congestion with upward bias - trading range.
Yesterday's comments were pretty valid, with however a clearer downward bias. The trading range is: [797-828] within a larger one [781-843].
Weekly: congestion to mildly UP
Entropy is looking good, but MTFS indicates continuation of this situation of congestion with a very slight upward bias.
