Short
$CHS Bearish technicals. Rising ADX and weak on a strong day
Key points;
1) ADX is giving a very strong bearish signal here that a downtrend is emerging
2) Price has consistently rejected the 20 day simple moving average
3) Price is incredibly weak on a very strong market day
4) RSI is not oversold yet so timing for a short is reasonable
5) MACD has not crossed down yet so timing for a short is reasonable
6) There is no uptrending support level
1) ADX is giving a very strong bearish signal here that a downtrend is emerging
2) Price has consistently rejected the 20 day simple moving average
3) Price is incredibly weak on a very strong market day
4) RSI is not oversold yet so timing for a short is reasonable
5) MACD has not crossed down yet so timing for a short is reasonable
6) There is no uptrending support level
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