Looking at the trend and the consolidation, the the price has a big chance to break the support and go down further.
The first target is 2850, if the price could close bearish outside the square and the trend line.
The worst scenario that the price close below 2850 and go down to 2600 will make a double bottom pattern before going up again.
The best entry position will be at 2600 - 2700. Another entry position will be at 2850 if the price consolidated near the support.
The first target is 2850, if the price could close bearish outside the square and the trend line.
The worst scenario that the price close below 2850 and go down to 2600 will make a double bottom pattern before going up again.
The best entry position will be at 2600 - 2700. Another entry position will be at 2850 if the price consolidated near the support.
Comment:
buy again @2950 after retest or fakeout, wait for confirmation
I am expecting a bullish run after this, but not immediately, maybe there will be a consolidation near support, fake-out or retest will be possible.