A Lower Low Validates Sell Opportunities for Every Retracement
Previous US100 Chart Update:
Last week, US100 has made a new lower low in the $12550 level. This provides a great opportunity to sell at every retracement. US Dollar Index has just made a new high since 2004. This further confirms that a bearish reversal for DXY is unlikely to take place in the near future. Therefore, we will be looking for potential sell opportunities in US100.
Currrently, the price is consolidating in the new lower low area. Therefore, we have no immediate trading action for now.
Our plan is to wait for price to retrace to the area of $13600 ~$13700, which is the level where all recent retracements have reached. From there, our first sell target will be in the price level from where the price has bounced up.
Last week, US100 has made a new lower low in the $12550 level. This provides a great opportunity to sell at every retracement. US Dollar Index has just made a new high since 2004. This further confirms that a bearish reversal for DXY is unlikely to take place in the near future. Therefore, we will be looking for potential sell opportunities in US100.
Currrently, the price is consolidating in the new lower low area. Therefore, we have no immediate trading action for now.
Our plan is to wait for price to retrace to the area of $13600 ~$13700, which is the level where all recent retracements have reached. From there, our first sell target will be in the price level from where the price has bounced up.
