As you can see by my chart, every time the price has hit the top of the linear regression
, and 0.04 on the MACD
, the price has reversed back down again with the CCI
and Stoch RSI
gradually falling back into their respective channels. Without consideration of any further shocks to the market, I think that political instability, the conflict in the south and east, I believe these factors have already been built into the price. I dont' believe the price will fall back down in the next few days, but probably drift lower over the coming weeks with the price potentially hitting 3.20.
The overnight will hopefully make baring this loss a little more bearable and a small short at the top of the resistance line should be considered to mitigate open losing positions.