As I said in my last update, should we break the channel to the downside look for 54 - 54.5k
This target clearly got hit with the low being put in at 53.8k, after that we rallied to the mid of the channel which we rejected for another drop.
Now, we are hovering around the bottom of the channel
If we reclaim it and retest it as support look for the mid then high of the channel
If we reject it I would look for the 50 - 51.5k support area
Any questions?
Good luck traders
Remember not to break your rules
Habib
This target clearly got hit with the low being put in at 53.8k, after that we rallied to the mid of the channel which we rejected for another drop.
Now, we are hovering around the bottom of the channel
If we reclaim it and retest it as support look for the mid then high of the channel
If we reject it I would look for the 50 - 51.5k support area
Any questions?
Good luck traders
Remember not to break your rules
Habib
