Trade Idea
The rally was sold and the dip bought resulting in little net change yesterday.
News events could adversley affect the short term technical picture.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Price action is forming a bearish flag which has a bias to break to the downside.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
This has resulted in mixed signals and we prefer to trade a break.
We look to Sell a break of 26900
Stop: 27000
Target 1: 26660
Target 2: 26500
The rally was sold and the dip bought resulting in little net change yesterday.
News events could adversley affect the short term technical picture.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Price action is forming a bearish flag which has a bias to break to the downside.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
This has resulted in mixed signals and we prefer to trade a break.
We look to Sell a break of 26900
Stop: 27000
Target 1: 26660
Target 2: 26500
Trade closed manually:
We pulled the stop into 26835 and got filled.
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