The market is not in a convincing sell mode, and this is because ongoing crisis. This may always have surprises and that is why caution always advised.
The stochastic is positive, but the MACD on weekly chart is little negative. The triangle formation provides insight which way we will go. The shape usually indicates lower levels to be seen.
As long we are careful and disciplined, the strategy is still SELL @ $ 99-101 (slightly higher now) and we keep stop-loss now above $ 105. A break higher will bring 110-115 insight once again. The support is still $ 93-95 and should be monitored when broken as this opens the door towards 78-80.
The stochastic is positive, but the MACD on weekly chart is little negative. The triangle formation provides insight which way we will go. The shape usually indicates lower levels to be seen.
As long we are careful and disciplined, the strategy is still SELL @ $ 99-101 (slightly higher now) and we keep stop-loss now above $ 105. A break higher will bring 110-115 insight once again. The support is still $ 93-95 and should be monitored when broken as this opens the door towards 78-80.