US500 - Intraday - We sold at 3410 (stop at 3426)
A Doji style candle has been posted from the high.
We are trading at overbought extremes.
This is negative for sentiment and the downtrend has potential to return.
Preferred trade is to sell into rallies.
Levels close to the 38.2% pullback level of 3420 found sellers.
Further downside is expected although we prefer to sell into rallies close to the 3410 level.
Our profit targets will be 3365 and 3300
Resistance: 3507 / 3588 / 3690
Support: 3300 / 3210 / 3000
A Doji style candle has been posted from the high.
We are trading at overbought extremes.
This is negative for sentiment and the downtrend has potential to return.
Preferred trade is to sell into rallies.
Levels close to the 38.2% pullback level of 3420 found sellers.
Further downside is expected although we prefer to sell into rallies close to the 3410 level.
Our profit targets will be 3365 and 3300
Resistance: 3507 / 3588 / 3690
Support: 3300 / 3210 / 3000
Trade active
Trade closed: target reached:
Take profit hit at 3365!
