Stubbornly supportive 200Ma causing a hold up for further downside, but more downside is likely.
Price may move up to 'test' 1300.00, but there are likely to be some BIG round number sellers
hanging around that level, waiting to short.
For this reason I'm gonna wait for price to hit 1300.00 to go short down to 1280.00 level.
Likely I will exit trade at that point, but market may want to go lower and test the trendline below it,
after a mild retrace up form 1280.00 or slightly above, But I will post another chart after 1280 has been
reached.
Price may move up to 'test' 1300.00, but there are likely to be some BIG round number sellers
hanging around that level, waiting to short.
For this reason I'm gonna wait for price to hit 1300.00 to go short down to 1280.00 level.
Likely I will exit trade at that point, but market may want to go lower and test the trendline below it,
after a mild retrace up form 1280.00 or slightly above, But I will post another chart after 1280 has been
reached.