No change in view.
The move lower is only a minor correction and much more will follow.
The market is overextended, and now we are forming a topping candle. The stochastic is negative and BUY pressure is reducing. this suggests LONGs are slowly getting out of the position.
Strategy is SELL @ 130.30-130.60 and add above 131.60. I had added at 131.20 infact and will have the following orders in place:
BUY 15% @ 129.00
BUY 20% @ 128.37
BUY 30% @ 127.17
balance @ 125.47 for now.
The move lower is only a minor correction and much more will follow.
The market is overextended, and now we are forming a topping candle. The stochastic is negative and BUY pressure is reducing. this suggests LONGs are slowly getting out of the position.
Strategy is SELL @ 130.30-130.60 and add above 131.60. I had added at 131.20 infact and will have the following orders in place:
BUY 15% @ 129.00
BUY 20% @ 128.37
BUY 30% @ 127.17
balance @ 125.47 for now.