Rejected off of the .786 retracement, top of the regression channel down. China COVID lockdown concerns looming for a nice catalyst and overall demand is subsiding. PT TBD but I'd expect to see this back in the 120-130 range before EOY, as long as FED doesn't make any bullish change to expected policy. 6/14 RSI and MACD both showing bearish movement.
Comment:
retail pumps yesterday/today (looking at volume). Expecting to see another rejection off of the .786. Adding to my short here.
Trade active:
Shorting through leg 3-4, TP 142
Trade active:
Looks like the regression breakout failed, will likely size up my position if markets don't rally around FED minutes this week.