On 4hr chart, we have seen continuous divergences on MACD, RSI also starts showing divergence. It's time for a daily basis correction after the previous bullish trend for almost half a year. Expect to reach target region around 2740, where shows a strong support/resistance level. Keep in mind that the long term trend is till UP!
Note
Today's volume is really low, meaning that the buying power is dying out even at low RSI, very likely another red day!Note
I highly doubted this will go very far. I ll close my short around the trendlineNote
The rest of the two days will be important. We already had a two day sideways, the dropping should be hard if it's really heading south. But.. I doubt it since it looks more like another correction for up. If not hard drop for the rest of two days, I ll close my short around 2880 areaNote
I am gonna close my short once it retests today's low. The big correction is not here yet.Trade closed manually
As expected, closing my short here. I think we ll probably heading up in the second half of this month.
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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.