What to watch. If the market can hold above $10,320 and close above the MA with a downward Williams arrow that's potentially a good sign. If not then there's another leg down. I discovered this by doing some back studies using my MACD for best timing (I haven't checked for errors). Study the MACD on my chart and judge for youselves what happens where I've joined two consecutive peaks (that's if the last peak turns out to be a peak), you may see more than me. I've also added another trend line of interest to my 2 hour chart from the 15 minute chart.
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The last peak (in red) on the MACD (really I should call it maybe a trough) wasn't a peak we'll see whether the next is. I've made the adjustment on my current chart. Then again if you can think of it a reflection then I guess you could call it a peak!
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The last trough (in red) on the MACD wasn't a trough we'll see whether the next is. I've made the adjustment on my current chart.
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Low reached of $10,200 looks promising for above analysis but MA may need to close in more but no Williams down arrow as yet.