*** Disclaimer - I am relatively new to TA ***
Moving averages and stochastics are showing bearish signals on the 4 HR . We're in a large descending triangle . Inside that, we're also seeing an upwards broadening wedge play out. I think we're going to break lower to the support around $11.50. This would be a great buying opportunity. If the US reacts positively to stimulus news upon markets opening, this could all be invalidated quickly. I'm bearish , but what do you guys think? This could make a decent short position depending on which route you want to take. I'll personally be putting in a leveraged long at support.
Moving averages and stochastics are showing bearish signals on the 4 HR . We're in a large descending triangle . Inside that, we're also seeing an upwards broadening wedge play out. I think we're going to break lower to the support around $11.50. This would be a great buying opportunity. If the US reacts positively to stimulus news upon markets opening, this could all be invalidated quickly. I'm bearish , but what do you guys think? This could make a decent short position depending on which route you want to take. I'll personally be putting in a leveraged long at support.