The fight between buyers and sellers
On the daily chart we have this Mean point on BB as next target if 23200 doesn't hold.
Engulfing Bar ,I ignore this because still on a down trend ,I trade off long extension spikes although sometimes we get bars like this at trend start.
I look to see where stops may be placed for possible targets for large Investors/Banks.
This is pretty common that price is pushed just a few pips just beyond previous high,usually means a reversal,I marked it with the flag,something you can look for next time your trading.
Looks like it is going for a round trip to 23200
I have a short off this spike with stop a few pips just above it.
Looking for a bounce off 23553 or we are going lower,red across the board in stocks.
30 pips off this short so far ,looks pretty bearish ,as long as Trump doesn't mention the Euro.
Next level of interest is 23920 ,that would take out previous Longs and complete the round trip.