So many shorts were forced out of the game yesterday and people are in a rush to short again because of the action, but selling is weak. Therefore, we should go long until the structure plays out or is violated. I went long yesterday as selling looked weak near 840 but I still think buying here should be a consideration. I'll consider under the 870 area a violation and 960 as confirmation.
Cheers!
Cheers!
Comment:
Note: The blue zone is just a target. Sell anywhere in there.
Comment:
Could be inverse H&S pattern or just a move to the downside.
Trade closed: target reached:
Closed at 890, not really sure about this and premarket looks noisy.