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Possible inverted heads and shoulders might be in play.
A break of 8250-8300 in short term would confirm it.
Bull's targets are 8350, 8510, and hold if 8650 breaks.
Despite the possible inverted heads and shoulders, I get a gut feeling the bulls are running out steam and will get rejected at the neckline or at the volatility moving average resting above the price action near 8420.
I intend to place some short orders within the ~3% spread between 8150 and 8420.
In the event that my short scenario fails, I will close with a 2-3% loss and flip long near 8600/8650.
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Possible inverted heads and shoulders might be in play.
A break of 8250-8300 in short term would confirm it.
Bull's targets are 8350, 8510, and hold if 8650 breaks.
Despite the possible inverted heads and shoulders, I get a gut feeling the bulls are running out steam and will get rejected at the neckline or at the volatility moving average resting above the price action near 8420.
I intend to place some short orders within the ~3% spread between 8150 and 8420.
In the event that my short scenario fails, I will close with a 2-3% loss and flip long near 8600/8650.
Do you enjoy my content?
You can support me by leaving a like!
