Both daily and weekly candles are showing a clear divergence.
This bearish divergence is also fed by bull exhaustion after the APR-AUG rally.
The stochastic had a confirmed cross over 80% and heading down
Stop-loss should be over the grey line, after a confirmed daily close.
The target for shorts near $36
This bearish divergence is also fed by bull exhaustion after the APR-AUG rally.
The stochastic had a confirmed cross over 80% and heading down
Stop-loss should be over the grey line, after a confirmed daily close.
The target for shorts near $36
Trade closed: target reached:
Target reached today! Take your profits and wait for the next move.
If your opening short trades, remember the last interest zone is near $49, which was 2019 support and several times tested.
This price can become a major resistance barrier and might be tested by the market several times.