Re-shorted below consolidating support. Targeting 30.30

I closed out my prior short this afternoon when we hit the 31.35 target. I waited for directionality on the next leg. AH, we saw bearish and bullish trendline support failures and a breach of the lower range of consolidation support. I've reshorted and targeting 30.30 the 62% retracement with a stop a 31.30

Trade closed: target reached:

Closed this short again today with my target reached at 29.70, this afternoon. The prior two API builds have served as short-covering signals. Typically, we've seen the futures trade down in the immediate after-hours of the build release, followed by short-covering on the European open and later throughout the following day. With support holding at 29.50 and two back-to-back >6% declines, I think the possibility for a technical short-covering rally is pretty high. I'll be sitting flat, waiting for directionality for the next move.