Looks like were in a wave 4 decline which should find support around the wave 4 region of wave 3 around 81.22
We would then rally again in wave 5 towards 83.50-83.90 resistance
Once there, if we get a daily bear close, we can start looking for shorts
This setup is tradeable as well for a short term short towards 81.50 area
Equity futures are looking bearish today so should support a down move for now
We would then rally again in wave 5 towards 83.50-83.90 resistance
Once there, if we get a daily bear close, we can start looking for shorts
This setup is tradeable as well for a short term short towards 81.50 area
Equity futures are looking bearish today so should support a down move for now