This is a short going off of both the 2 hour Mac d retest and the EMA 987/3200 Zones. It could very well be topping out here soon, but if bulls attempt to pump its going to retest the 2hr, and above that the 4 hour macd. I can't see if going much higher than that as those will created immense downward pressure. The markets are prone to a retracement soon to reset the RSI/MACD into more neutral territory.
Comment:
The stop should probably be higher around $8200
Comment:
Its probably better to watch for the 4 hour macd retest as the 2 hour is getting low enough where it'll break through to the upside before the plummet.