Crowd being struck down? We look to Sell at 156.68 (stop at 167.00)
Short Term - We look to Sell at 156.68 (stop at 167.00)
Preferred trade is to sell into rallies. Price action is forming a bearish flag which has a bias to break to the downside. Short term oscillators are moving lower. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Our outlook is bearish .
Our profit targets will be 130.62 and 120.15
Resistance: 155.53 / 191.54 / 240.00
Support: 130.00 / 119.00 / 95.00
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