We are getting close to a high resistance zone in 7600-7650 area. Short term bearish wedge and midterm downtrend line converge, and the loss of momentum is obvious too. A drop is very likely to happen, targeting 6800 zone which wasn't reached in the last drop and it's needed to fulfill fibos and a healthy retracement.
Note
Wedge broken downwards!! Good time to open shorts at pullbackTrade closed: target reached
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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.