Leg 1 of Back Door Bear Break was Shortlived...

Last night, PRICE did challenge 1518.75 and cleared it at 12:02am, S'pore Time. PRICE also created Leg 1 of Back Door Bear Break. But the market had other ideas...Shortly after clearing 1518.75 & creating Leg 1 of Back Door Bear Break, PRICE tumbled down hard, resulting in a Bear TREND again, on the TREND Chart. And now, the Bull TREND on the SWING chart is being threatened. At the close, we are only less than 4 points away from creating Leg 1 of Bull Break, on the SWING Chart (Last PRIME Support is at 1494.25).

New PRIME Resistance on the TREND Chart is now at 1519.50 - Again, clearing this level would give us Leg 1 of Bear Break.