MS - Short Position
On the chart we can see the raising wedge pattern. It seems that the wedge is in its early stage of development.
We are expecting that the price will be consolidating inside the wedge for a while, before the breakout.
RSI currently is showing oversold conditions, therefore we believe that the price will bounce from the upsloping support.
We would enter the short position when (only if ) the price breaks down of the wedge.
Possible path is shown on the chart.
The target will be determined once the breakout occurs.
Good luck
We are expecting that the price will be consolidating inside the wedge for a while, before the breakout.
RSI currently is showing oversold conditions, therefore we believe that the price will bounce from the upsloping support.
We would enter the short position when (only if ) the price breaks down of the wedge.
Possible path is shown on the chart.
The target will be determined once the breakout occurs.
Good luck
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