Monthly has broken the 2009 support and went a lot deeper than i (and probably many others) initially expected. on this time frame seems to float mid air to me, having me think that this sell off is not over yet, but is merely taking a break here. So with monthly flashing warning signs, i'm reducing my long positions significantly and i'll be on the look out for short opportunities. Nonetheless we can't ignore the weekly time frame and it being oversold on the .
Weekly fel through all support and landed in the oversold yellow i've previously drawn. I think will make either a bounce to previous support here or possibly stay stuck for a while below the descending tops resistance. Considering the steepness of this trend i think this trend will be broken and create momentum to move up through more resistance.
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