The overall market rallied on news that the FED is not looking for a higher rate hike than the proposed 50bps. This led to a relief rally up to the neckline of the recent head-and-shoulders formation. From a technical perspective if the active bulls cannot reclaim $4350, the path of least resistance remains to the downside. Shorting vs the neckline may be a good risk/reward strategy.
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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.