Looking at the end of the week, and it's failure to build on positive news to go beyond $ 1,200 makes me wonder. I felt we could buy into weakness during the week as indicators were still supporting it.
Now end of the week, we go negative stochastic on weekly chart (day starts as as well), and the MACD weekly chart is showing we should go south a lot more.
That is the reason I change direction (made money on way up), and now feel we should go short current close $ 1,025-1,050 range for a move to $ 850 initially and likely $ 700-750. Stop-loss above $ 1,200 for now.
Now end of the week, we go negative stochastic on weekly chart (day starts as as well), and the MACD weekly chart is showing we should go south a lot more.
That is the reason I change direction (made money on way up), and now feel we should go short current close $ 1,025-1,050 range for a move to $ 850 initially and likely $ 700-750. Stop-loss above $ 1,200 for now.
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