Trend: Bearish. The market has shifted from an uptrend to a downtrend.
Pattern: Break and Retest. Price broke below the 49.50 support level, retested it as resistance, and is now rejecting it.
The Trade: A Short (Sell) setup is active.
Target (TP): 46.48 (Lower support zone).
Stop Loss (SL): 49.79 (Just above the current resistance).
Outlook: Sellers are in control as long as the price stays below 49.80
Pattern: Break and Retest. Price broke below the 49.50 support level, retested it as resistance, and is now rejecting it.
The Trade: A Short (Sell) setup is active.
Target (TP): 46.48 (Lower support zone).
Stop Loss (SL): 49.79 (Just above the current resistance).
Outlook: Sellers are in control as long as the price stays below 49.80
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.