The weekly chart shows the price has just broke down from the bullish trend which has been ongoing for many years. Look at the resistance at 296 level from Jun 2018 to Dec 2019. Now the price is revisiting this level and I believe is likely to break down further to 240 price level........
This can be a short term short trade for those who are keen. Please DYODD.
This can be a short term short trade for those who are keen. Please DYODD.
Comment:
www.cnbc.com/20...2-earnings.html?&qsear...
Comment:
As the price action has returned back to its bullish trend line ,the short term sell trade is OFF. We now await the pull back , preferably still within the bullish trend line before initiating a position. The CPI data has been stubbornly high , prompting the FED to raise the interest rate by another 75 basis point in November and more next year. This will be a NO GO for the stock market.....