As expected from
previous post, the support at 5700 could not hold with such increasing supply.
This is bearish. It is unlikely JCI would close the gap at 5900-6000 anytime
soon. Smart money is keen in pushing
down JCI with increasing volume while penetrating support with a firm weak
close. This could easily gain more following. From Elliott Wave
perspective, we could say that JCI has completed a flat correction pattern and now the prevailing trend continues,
which is a downtrend.
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