The trend started to turn down. Recent drop down to 5400 area is too deep to be a local correction and (after bounce) new lower lows (targets T1, T2 and even lower) expected.
Likely, a short opportunities are in the area of fib 0.618 retrace.
Likely, a short opportunities are in the area of fib 0.618 retrace.
Comentarios:
Smaller details of bounce - at first a retrace to 5800 area expected:
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Price moves up like expected:
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Above 6700 targeting 7000...7200, below 6300 targeting 5800:
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Bearish bounce nears to the end: to the resistance in 7300 area. Retrace down to 6800 area (and may be lower) expected. And move up to 7300 again.
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Resistance 7300 and 7500 broken. Idea about bearish bounce invalidated.
