Price has displayed a bearish sentiment and momentum for some time now. This analysis is based on a few technical factors:
- Weekly momentum to the downside is very high - The previous daily lows have been breached - Current price has retraced from support in order to achieve a discounted entry
Targets have been set at a significant support region and I intend to scale out and go breakeven to secure a risk free position. More importantly, this means I can get to sleep here in the UK lol.
Hopefully this analysis is useful regardless of the outcome!