Are we in a bull market? Quite sure? Absolutely sure? The chart isn't broken? The weekly trend isn't broken? We've been over this only days ago, and I was proven right, in spades.
Support is not only broken, but smashed most violently? Potentially not one but two critical Support levels in 3 days? (1,302, and Brexit day support)
I don't uses MA's (tho I mentioned one below (30 week SMA), because i know that some do use them, and I suggested an atypical one as having some potential confirmatory value of price mechanics).
"in bull markets the 200 moving average has previously been strong support "
For the record, the 200 SMA and EMA have both been broken. (FWIW)
***Check it out.***
I will absolutely agree that nothing goes in a straight line, but I have nothing more to say on this matter.
You are under no obligation to agree, but I recommend you study price mechanics and market structure rather than MA's. It doesn't entail MA's or other dazzling tech indicators. Go to a Trading Floor and see if the Traders (or algos ) use them. They don't. I can tell you. I worked on Wall St 1/4 Century (tho not as a trader, but you pick up a bit after a few decades ...)
My views are expressed in a reply of a few minutes ago to
@V*.
