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SCHWANG!! The Downtrend is Broken 11/2/20

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Or is it?

Click to engorge.


The hourly oscillators certainly suggest so. It's a quite bullish pattern. To confirm, the ES fucutures need to clear 3335. That would break the last peak, and the downtrend channel. 

The conventional measured move implication of such a breakout would be 3430. 

This isn't foreordained. First, it needs to get to a current 5 day cycle projection of 3320. 

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