- price broke down from up trend channel within sideways trend before going within down trend - price retraced three times from 20D WMA which is also 0,5 fibonacci retracement line from breakdown movement - next bigger resistance is at 25850 & 61,8 fibonacci line - open short if two candle close under this resistance line - MACD baselines crossed already bearish - RSI broke down from up trend and has lot space to go down
The latest economic data largely disappointed and did not stop the falls. The number of new homes sold fell surprisingly in January, while the weekly initial jobless claims rose faster than expected. In addition, prices of goods imported into the US declined again in February, though weaker than in January.
In addition, insiders said that US President Donald Trump and his Chinese counterpart Xi Jinping will not meet in reference to trade dispute this month. A meeting is expected to take place at the earliest in April, reported the news agency Bloomberg, relying on three unnamed persons who are familiar with the matter. Previously, representatives of both countries had talked about progress in talks to resolve the conflict.