It just ran up and is chopping backwards looking for support. This is quite a bad area to trade in. Once it crosses the pitchfork median line it will make sense to look for price action that shows it is nearing a bottom.
The support/resistance region around 1520 or so will probably be a good area to shift back to a bullish intraday bias and maybe even swing longs.
The recent giant weekly rejection wick at 1615 means looking for longs right now is a very bad idea.
The support/resistance region around 1520 or so will probably be a good area to shift back to a bullish intraday bias and maybe even swing longs.
The recent giant weekly rejection wick at 1615 means looking for longs right now is a very bad idea.
