$MUB 24-hour low, current price 879.63, previous low 884.5.
After a new low, there are generally three possible moves:
① Rebound to the previous low and get pushed back down: weakness continues
② Choppy trading around the previous low: consolidation, waiting for direction
③ Quickly reclaim the previous low and hold above it: a bear trap
For now, it's still below the previous low, so let's first see whether it's ① or ②.
After a new low, there are generally three possible moves:
① Rebound to the previous low and get pushed back down: weakness continues
② Choppy trading around the previous low: consolidation, waiting for direction
③ Quickly reclaim the previous low and hold above it: a bear trap
For now, it's still below the previous low, so let's first see whether it's ① or ②.
