As you know from my previous analysis were all waiting for the price to retest its key resistance yesterday and we were able to see the price action push back up to its key resistance level and retest but it seems like the bulls have run out of gas to break through that level and had formed a double top .
RSI also indicating an over-brought territory
We also have a lot of important data coming out for Australia today and of course due to the corona virus we can't expect the data to be too good.
This might be the catalyst to the push downside
But remember trading is always reactive not predictive, but my over all view is bearish bias and I will be entering a short.
May the trade be with you
RSI also indicating an over-brought territory
We also have a lot of important data coming out for Australia today and of course due to the corona virus we can't expect the data to be too good.
This might be the catalyst to the push downside
But remember trading is always reactive not predictive, but my over all view is bearish bias and I will be entering a short.
May the trade be with you