Wave C of A-B-C formation is likely in development.
200EMA worked well as a support during the past 4 weeks.
Short #POLY if 1620 level doesn't hold on daily (and subsequently RSI upward trend is broken) with targets:
1490 (100% Fibo and a descending chanel low boundary) - most likely.
1207 (161.8% Fibo and a long time support trend line going through Oct'18, May'19 and Mar'20 lows).
200EMA worked well as a support during the past 4 weeks.
Short #POLY if 1620 level doesn't hold on daily (and subsequently RSI upward trend is broken) with targets:
1490 (100% Fibo and a descending chanel low boundary) - most likely.
1207 (161.8% Fibo and a long time support trend line going through Oct'18, May'19 and Mar'20 lows).
Comment:
Sell order 1600, TP 1490, SL 1650
Trade active:
Move SL to 1600
Trade closed: stop reached:
Stopped at 1600
Trade active:
Re-enter Short 1600, TP 1490, SL 1650