Inverted hammer candle and a possible bearish engulfing candle, are signs of rejection at a very major resistance level.
It is natural and necessary for the market to make a corrective pullback in search of demand and liquidity.
Intraday short positions could be taken during next week's opening.
Be careful of the key support area near 1280.00s
- price could bounce off of that range to retest the current resistance (double or triple top pattern)
If price breaks 1280.00s, the market could fall lower
Best of luck!
Felipe
It is natural and necessary for the market to make a corrective pullback in search of demand and liquidity.
Intraday short positions could be taken during next week's opening.
Be careful of the key support area near 1280.00s
- price could bounce off of that range to retest the current resistance (double or triple top pattern)
If price breaks 1280.00s, the market could fall lower
Best of luck!
Felipe