E-mini: Loss Of Momentum | Investing.com
Pre-open market analysis of the daily chart Loss of momentum. Friday was a big bull bar, but it couldn't close above Thursday's high or a new all-time high. Cops not as strong as they could have been. The top of the 9-day narrow trading range was tested on Friday. Bears want a reversal from the double peak down, but need a bear sell signal bar before reversing down. The streak of 13 consecutive bull bars that ended two weeks ago makes it hard for bulls to stay much higher without a 10% pullback. Will likely enter a trading range for a couple of months soon. Last week it was the fifth consecutive bull bar on the weekly chart, which is unusual. This increases the likelihood that this will close under the Open of the Week, which is open today. This is the last week of April and the bulls want another month to end near its high. Before a bar is closed, there is often a sharp up or down movement that changes the appearance of the bar after it is closed. Increased chan...