By Claus Andersen
4. March 2019
Price is still moving in the larger bull channel. It did fail to reach the bull channel line. That often leads to a break of the trendline. Price was in a steep bull channel when it broke to trendline and re-tested the high. Made a DT and sold off. In today’s trading price made a significant bear leg. A leg as strong as that often has a second push. That plays along nicely with the notion of a broken major bull trendline. I would not be surprised to see 11400 again this week. When that is said, everything is possible. But I favor the sell side short therm.
Support and resistance adjusted on this chart.
I have had a hard time getting started this year. I have been in this position before and always pulled myself out of it. It comes down to having good sparring buddies in trading. If you don’t already have a partner in crime when it comes to trading. Make an effort to get one. It really is tremendously valuable in the hard times.
Have a nice trading week.