It doesn't looking good for BA.
Very important level of support was broken on Friday.
Now, it could be a fake breakout and bounce back from this Fib 0.5 level like it did before.. but the weekly candle closed below that level with heavy volume of sellers.
Now we need to watch for test this previous support which is now turned resistance and if the sellers will push it down (what is most likely to happen), I will take a short position with good R:R to the next major support that seat right on Fib 0.618 and also nice gap that need to be filled.
Good luck ,
Trade safe.
Very important level of support was broken on Friday.
Now, it could be a fake breakout and bounce back from this Fib 0.5 level like it did before.. but the weekly candle closed below that level with heavy volume of sellers.
Now we need to watch for test this previous support which is now turned resistance and if the sellers will push it down (what is most likely to happen), I will take a short position with good R:R to the next major support that seat right on Fib 0.618 and also nice gap that need to be filled.
Good luck ,
Trade safe.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.