A higher high has been formed suggesting a short term change in trend.
However, there is no confirmation until the $316 region is taken out.
As long as we remain below $316, expect bounces to be sold.
In the near term, I expect $250-$260 zone to be a good buying opportunity.
As long as last week's $246 low holds, expect dips to be bought for a move to 296-305 supply zone.
Bullish in short term, bearish long term (as long as we’re below 316)
However, there is no confirmation until the $316 region is taken out.
As long as we remain below $316, expect bounces to be sold.
In the near term, I expect $250-$260 zone to be a good buying opportunity.
As long as last week's $246 low holds, expect dips to be bought for a move to 296-305 supply zone.
Bullish in short term, bearish long term (as long as we’re below 316)