Interesting HS with 2 bullish hammers and 2 bearish hammers.
We "should" bounce here with inv HS and target 292$ but China is still very bearish and only few cny above last low 1763cny. We can see falling wedge... Probably with bearish ending.
Chart looks very bearish for me, it's trend reversal type chart.
Ofc go long now is a solid idea, but I guess we'll see final leg down to .786-.681 fibo.
SHORT now or a little higher is good idea (SL 292$), but I'm not going short more because I'm still holding shorts opened with this chart:
Good luck with trading!
We "should" bounce here with inv HS and target 292$ but China is still very bearish and only few cny above last low 1763cny. We can see falling wedge... Probably with bearish ending.
Chart looks very bearish for me, it's trend reversal type chart.
Ofc go long now is a solid idea, but I guess we'll see final leg down to .786-.681 fibo.
SHORT now or a little higher is good idea (SL 292$), but I'm not going short more because I'm still holding shorts opened with this chart:
Good luck with trading!