Support levels are holding; however, the markets can’t seem to sustain any type of bullish rally. The markets opened higher on the session, but slowly and steadily gave back the majority of their gains.
This bearish move has pushed price levels well below averages, making it difficult to enter new bearish positions here. We have been waiting for a multi-day bounce in these markets, along with the rest of the world, but the bulls have yet to find any legs.
Stay patient! As discussed in Sunday’s trading room, we aren’t seeing very many high probability setups. Keep an eye on the current support levels and let’s see if the bulls can muster a rally here.
Have a good night,
Maverick Trading
Over the years, we have spent thousands of hours talking with our traders and answering their emails. We have a huge collection of really great information that only benefited the specific traders who we were interacting with. So, we decided to start sharing all of these gems of knowledge with everyone.
