Here is the turningpoint?
It seems the falling from 41.60 is like an impulse wave in Elliott wave theory. So there is a huge rising and almost fill in a milestone gap form March. Now the trendline is about to break and I expect to see the next downward pressure which objective is at 34 or more around 30$.
The rising correction will create the short junctures and now I would not like to see the price go above 39.80 before a new low! It is important n terms of five-wave structure.
We can open a short right now but the real good chance will be created in the wave ii correction, the breakout retest.
Important
Always use stop order, cutting losses, this is one of the essential elements of your risk management and if you would like to be an independent investor then you must be the master of risk management.
Disclaimer
Reserved the right to make changes the content on this analysis at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions.
The rising correction will create the short junctures and now I would not like to see the price go above 39.80 before a new low! It is important n terms of five-wave structure.
We can open a short right now but the real good chance will be created in the wave ii correction, the breakout retest.
Important
Always use stop order, cutting losses, this is one of the essential elements of your risk management and if you would like to be an independent investor then you must be the master of risk management.
Disclaimer
Reserved the right to make changes the content on this analysis at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions.
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