Here need to be careful with position. Better to wait around 230-232 and go to short. Still think what bulls have not enough power to break this right now, and same things about bear breakout below 200. So, i just watching and will wait for entry into position.
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Addictional chart. Im waiting how its will played out
TheShakeOut
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It is in a strong downtrend. I would not look for longs until the market shows confirmed signs of strength
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I guess it will be not easy to fall below 200 and below main low (160~) cuz we have a main trendline breakout. Lets see :)
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TheShakeOut
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I do not agree. Markets move by supply and demand. This market is showing confirmed weakness, it is failing to respond to any signs of strength, it is maintaining the downtrend and it has broken the support. The only thing that can cause a change of trend is a confirmed sign of accumulation taking place.
I will post updates on my analysis if the market shows that :)