On 4hr chart, we have seen continuous divergences on MACD, RSI also starts showing divergence. It's time for a daily basis correction after the previous bullish trend for almost half a year. Expect to reach target region around 2740, where shows a strong support/resistance level. Keep in mind that the long term trend is till UP!
Comment:
Today's volume is really low, meaning that the buying power is dying out even at low RSI, very likely another red day!
Comment:
I highly doubted this will go very far. I ll close my short around the trendline
Comment:
The rest of the two days will be important. We already had a two day sideways, the dropping should be hard if it's really heading south. But.. I doubt it since it looks more like another correction for up. If not hard drop for the rest of two days, I ll close my short around 2880 area
Comment:
I am gonna close my short once it retests today's low. The big correction is not here yet.
Trade closed manually:
As expected, closing my short here. I think we ll probably heading up in the second half of this month.