The market takes no particular interest in trading these days: the volume is very low, volatility - non-existent. No wonder nothing has happened since the previous update. Still, this anemic price behaviour suggests that the bottom might not have formed yet. There are a couple of technical bearish considerations:
My strategy is to go short on the break of 7320 level. Key levels & bearish targets are drawn on the chart.
- The price failed to break resistance of the descending channel combined with the moving average;
- The bounce from April 29 took the form of a 3--wave correction;
- The Inv. H&S pattern will be invalidated below 7300.
My strategy is to go short on the break of 7320 level. Key levels & bearish targets are drawn on the chart.
Note
Emerging H&S on other exchanges' charts: Note
Note
Above 7700++ I will turn bullish and consider waves' extension: Note
Morning Triangle: 
Telegram: t.me/NixTrading
Сигналы: NixService.net
Агент-аналитик: t.me/NixAgent
Сигналы: NixService.net
Агент-аналитик: t.me/NixAgent
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/NixTrading
Сигналы: NixService.net
Агент-аналитик: t.me/NixAgent
Сигналы: NixService.net
Агент-аналитик: t.me/NixAgent
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.