It seems yet another push lower towards the 5875-5950 area is likely at this point. The 45 degree line from the marked blue square is anticipated to attract demand at that point. Until then, shorting into strength seems to be the way to go. Limit sell orders around 6085, the 15 degree angle coming from the recent low, tight stops and 1R-2R targets seem reasonable for now.
Note
The 45 degree angle of the blue square hit and demand rushed in from the looks of it. That was the spot to cover shorts and reverse position at lesser for a minor pullback towards the 15 degree angle around 6075Note
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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.