The move down is starting slowly, and we are below the cloud, which is a bearish signal. Secondly, we are within a triangle formation, and this itself does not state which way we will go, unless we break either side.
The key on downside is below $ 93.00 to ignite a move to $ 75.00. The upside is protected by 103.50 area. Since we are below the cloud SELL is the way to go, and stochastic is negative.
Strategy SELL $ 100-103 and place stop-loss above $ 105.00 for safety. Take profit at $ 94.25 and re-sell if below $ 93 for a few sessions.
The key on downside is below $ 93.00 to ignite a move to $ 75.00. The upside is protected by 103.50 area. Since we are below the cloud SELL is the way to go, and stochastic is negative.
Strategy SELL $ 100-103 and place stop-loss above $ 105.00 for safety. Take profit at $ 94.25 and re-sell if below $ 93 for a few sessions.
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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.