Top40 rolling over- Short the bounces
The Top40 has been under pressure over the last few sessions and today it is looking like it has finally reached exhaustion. As the RSI begins to show more weakness, we can see how the Top40 has started rolling over and now it does appear that momentum has shifted to the downside. I think any bounce can be shorted here for a corrective move back down towards 71000. I have marked the area of support where the previous breakout occurred. I won't be surprised to see a test of that level. I'm pretty sure I don't speak out of turn when I say, we have moved too high, too quick and it is time for some sanity to enter back into the market.
Trade closed: target reached
Well that happened very swiftly...
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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.