We have reached the upward level of the channel , clear bearish candle of today is the start of a downtrend
Trade active:
Bulls do not give up easy.
Still maintaining bearish position as 12500 is not breached.
Rsi showing clear signal of weakens
Still maintaining bearish position as 12500 is not breached.
Rsi showing clear signal of weakens
Comment:
12500 is a critical level and if we stay below it look for targets at bottom of the channel , it might take time but remember this is a weekly channel .
Comment:
12500 is broken and we are looking now at 12300 as strong support area , if broken 12000 will be the target for this analysis
Comment:
Still 12000 level is holding and we are in the middle of bull-bear fight claiming upper hand
Comment:
Target one achieved , you may ride to previous bottom 11500
Comment:
Approaching end of tunnel , watch out for price action around 12000
Comment:
All Shorts exit