I still watching the development of this trading range. After the phase A we've seen a minor sign of weakness, but after that the continuation of the rally. I didn't buy because I see some bull's weakness and today we have a confirmation.
Next week I expect to see a new test of the support level. And if we can even go lower, I will sell more after the test.
By the cyclical analysis I have a bearish forecast till the end of May, then a correction and a new wave of sells. But this type of forecast should have a coherence with a technical analysis as well.
Next week I expect to see a new test of the support level. And if we can even go lower, I will sell more after the test.
By the cyclical analysis I have a bearish forecast till the end of May, then a correction and a new wave of sells. But this type of forecast should have a coherence with a technical analysis as well.
Comment:
I will stick to my initial plan. Yes, we see some weakness from the sellers, but note, the buyers weren't able to make a higher high so far. Let's wait for Monday, we can expect a new attempt to make a higher high, maybe some divergence and after that go lower.
Trade active:
I post an update of this chart here:
