Since breaking above $1400 it has been consolidating into a wedge. As we all know, wedges have a tendency to break one way or the other and it's anyone's guess which way it breaks. However, as I've highlighted below, we have MASSIVE bearish divergence on the RSI as well. This is primed to break downwards and it will be swift. I''ll be adding to my short positions on any rise.
Trade active:
Look to add more shorts on a retrace.
Trade active:
A break below 1480 will take us to 1462. Below that I'll update based on price action.
Trade active:
We had another opportunity to add short positions at 1524 today.
Trade active:
Looks like we are heading to the $1420 region.