You can see that nq still isn’t broken out of downtrend. This s seen best on the daily chart. It hasn’t made a higher high so far. It will if it makes it passed 13819 but it has tried for a while now to break resistance at 13735 to 13770 but it failed on multiple occasions. Also you can see nice negative divergence on RSI at bottom of my chart.
So I am in a short position now. We have a good defense with resistance oat 13770 and then a supply zone at 13820 which is also a strong 786 fib. A good defense wins games and this is what we have here. My stop is just above the supply zone. My 1st target is the 618 fib or 13626. Which is a cute little profit that I’ll take. And then I will reanalize here and see what my next move will be. Stay tuned!
Ms. Bunny
So I am in a short position now. We have a good defense with resistance oat 13770 and then a supply zone at 13820 which is also a strong 786 fib. A good defense wins games and this is what we have here. My stop is just above the supply zone. My 1st target is the 618 fib or 13626. Which is a cute little profit that I’ll take. And then I will reanalize here and see what my next move will be. Stay tuned!
Ms. Bunny
