Crossroads - higher potential to the bottom
9,600 has low volume area around itself. I believe it is going to act as the crossroads this time. Chance to the downside is comparable, but there is potential to go further. If it rallied now, it would get to 10,500 max to reassess the direction again. To the downside, I expect the price to move 200 MA which is about 8500.
I opened a short, because I see 10,500 as a maximum value before the next crossroads, whereas 8500 is not necessarily minimal price. In spite of the latest impulse being to the upside, I don't think it increases rally chances by much.
I opened a short, because I see 10,500 as a maximum value before the next crossroads, whereas 8500 is not necessarily minimal price. In spite of the latest impulse being to the upside, I don't think it increases rally chances by much.
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.
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.