After the few days we've seen a rally up to new tops at 1646, it's time for a correction in the short term.
The predicted target is at 1617 (a great resistance point). I would short with a stop at 1633 (as of now) and a stop-loss at 1644. However, it is not certain of what will happen once it reaches 1617. It might sit on that resistance for a bit then plunge down again to 1590-1566. Just look for confirmation candles and in your indicators for potential reversals.
Good luck! Remember, this is SHORT TERM. We are still in a very good bull trend.
The predicted target is at 1617 (a great resistance point). I would short with a stop at 1633 (as of now) and a stop-loss at 1644. However, it is not certain of what will happen once it reaches 1617. It might sit on that resistance for a bit then plunge down again to 1590-1566. Just look for confirmation candles and in your indicators for potential reversals.
Good luck! Remember, this is SHORT TERM. We are still in a very good bull trend.
Trade closed: stop reached:
Got stopped out. The bulls decided they wanted to flex their muscles.