Take a look at this updated chart.
We had an opportunity to take profits well below $51 and set our S/L for profit. We see a relief bounce here and an attempt to break out of this consolidation phase. I will be building a short position @ near $54 again until proven otherwise. we have tested the lower trendline several times during this consolidation phase which can be bearish. Set a stop that best suits your scenario.
Good luck, Best wishes,
Follow me, and you won't have to say
HONEYITSGONE!
We had an opportunity to take profits well below $51 and set our S/L for profit. We see a relief bounce here and an attempt to break out of this consolidation phase. I will be building a short position @ near $54 again until proven otherwise. we have tested the lower trendline several times during this consolidation phase which can be bearish. Set a stop that best suits your scenario.
Good luck, Best wishes,
Follow me, and you won't have to say
HONEYITSGONE!
