Both daily and weekly candles are showing a clear divergence.
This bearish divergence is also fed by bull exhaustion after the APR-AUG rally.
The stochastic had a confirmed cross over 80% and heading down
Stop-loss should be over the grey line, after a confirmed daily close.
The target for shorts near $36
This bearish divergence is also fed by bull exhaustion after the APR-AUG rally.
The stochastic had a confirmed cross over 80% and heading down
Stop-loss should be over the grey line, after a confirmed daily close.
The target for shorts near $36
Note
Today the market had a shy spike below the resistant trend line drawn in the chart.If your opening short trades, remember the last interest zone is near $49, which was 2019 support and several times tested.
This price can become a major resistance barrier and might be tested by the market several times.
Trade closed: target reached
Target reached today! Take your profits and wait for the next move.
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.