After printing a high earlier in 2014 CPA has been heading down. It found some support at $100 and the weekly 200ma initially but now price has broken below this level.
The move on the daily chart, since breaking below recent support and $100, has been quick (with a succession of bearish bars) and price is now approaching the pivot high (from 2012) of $86.50. We should expect to see a small pullback toward $100 before this level is cleared but if not we still want price to comfortably clear $86.50 before considering a short.
Beyond this the next major support is $73.33. If shorting I would want my trade to be risk free before getting to this level.
The move on the daily chart, since breaking below recent support and $100, has been quick (with a succession of bearish bars) and price is now approaching the pivot high (from 2012) of $86.50. We should expect to see a small pullback toward $100 before this level is cleared but if not we still want price to comfortably clear $86.50 before considering a short.
Beyond this the next major support is $73.33. If shorting I would want my trade to be risk free before getting to this level.
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Web: dt.live
Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
Instagram: instagram.com/dynamictrader
Twitter: twitter.com/dynamictrader
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.