Since end January we are trading within a broad range between 71 and 78. Now we have reached the bottom again and may expect another upward retracement . Yes, the trend is still downward and cautiousness is required. Perhaps it will take some more days to confirm a possible bottom here. But a retracement up would indicate the readiness for such a bottom.
Trade closed: target reached
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I am taking a part of the profit and leave another part of the position long in the market.