*** Disclaimer - I am relatively new to TA ***
Moving averages and stochastics are showing bearish signals on the 4 HR . We're in a large descending triangle . Inside that, we're also seeing an upwards broadening wedge play out. I think we're going to break lower to the support around $11.50. This would be a great buying opportunity. If the US reacts positively to stimulus news upon markets opening, this could all be invalidated quickly. I'm bearish , but what do you guys think? This could make a decent short position depending on which route you want to take. I'll personally be putting in a leveraged long at support.
Moving averages and stochastics are showing bearish signals on the 4 HR . We're in a large descending triangle . Inside that, we're also seeing an upwards broadening wedge play out. I think we're going to break lower to the support around $11.50. This would be a great buying opportunity. If the US reacts positively to stimulus news upon markets opening, this could all be invalidated quickly. I'm bearish , but what do you guys think? This could make a decent short position depending on which route you want to take. I'll personally be putting in a leveraged long at support.
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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.