Unable to break out of descending triangle, important resistance
Updated
My last idea, pretty much hit the nail on the head and unfortunately we are not out of the woods yet.
We have taken some hard hits in the last few days and I it has been a bit oversold.
I expect to see a slight recover up to 6700 before continuing the downtrend towards the resistance line at 5700.
I'll update as we get closer to 5700.
Be safe out there.
We have taken some hard hits in the last few days and I it has been a bit oversold.
I expect to see a slight recover up to 6700 before continuing the downtrend towards the resistance line at 5700.
I'll update as we get closer to 5700.
Be safe out there.
Note
I believe we will touch 5600-5700 before the 17th.Note
Almost hit target, but I think we still have some upside before we slide further down.Note
Going into the weekend I am going to predict a relatively flat weekend then a retest of support on Monday. I am setting my stops now.Note
It eventually hit 5700 a bit longer than expected. Now it's time to be careful. Good luck.Note
Bleh, sorry my 5700s and 6700s have been confused but you get the idea. Initial idea is that it would hit 6700 then trend back down.
My opinions only not trading advice.
Related publications
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.