Long in a bearish market
Updated
as we can see a long resistance (which is 2/1 line of gann fan) from 17 Feb, it has been hit twice and came to a big free fall to appro. $325.
It comes back to closer to resistance and start a small flag formation which is believed to be bullish as the volume as of today has been dropping as a new low since the commencement of such formation. We could add long if it breaks to $380, targeting $405.
However, remember to set tight stop loss, say $368.6, as it reminds in a bearish market.
In the long run, i am looking forward to see a new low below $325.
It comes back to closer to resistance and start a small flag formation which is believed to be bullish as the volume as of today has been dropping as a new low since the commencement of such formation. We could add long if it breaks to $380, targeting $405.
However, remember to set tight stop loss, say $368.6, as it reminds in a bearish market.
In the long run, i am looking forward to see a new low below $325.
Comment
be cautious to trading volume todayTrade closed: target reached
time to sell
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