Expecting a move back down to 240 is expected, and a break under 265 on SOW would be a sign we on the move. Considering that last week demand was still strong in presence, even tho it go absorbed at 285, I could expect more test of the zone before it would go down. Which would give us a even better sell entry when there’s signs of weak demand coming out of there if we go back test the area again. A move back directly to 240 is also a possibility if supply keep on showing presence as it is.
Daily
Supply has been overweighting for the 6 last day.
Weekly
Monthly
Daily
Supply has been overweighting for the 6 last day.
Weekly
Monthly
Trade closed: target reached
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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.