Monthly chart is bearish. But has not broken below the previous month low yet. Look for monthly close before entering trade. Even if it raises strong resistance from the upside could cap the move as the weekly chart is going through 100 MA crossed by 22 EMA from the top (bearish cross). Daily chart has head and shoulders pattern which is a bearish continuous pattern.
Hence it is safe to wait for some strength to be shown before entering. Could drop to 5 to 7.5 dollars. Buy at 7.5 and add more at 5. Target 1 -> 25 (current monthly high ) and Target 2 -> 48 to 51.
Trade ativo
