June 16, 2020

Market outlook

Daily charts:
- market rangebound between 9500 and 10500
- today markets opened gap up and sold off immediately
- at one point, markets were in negative

- intraday trading range was 300+ points
- close was 1% in positive at 9914

- AD was 4:5

- we have hammer formation for 2nd consecutive day
- in a rising market, hammers are a problem as they show selling
- on weekly we have a huge hammer or  a hanging man

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