Redlines - Bearchannel Whiteline -Splitchannel Yellowlines - secondary bear channel Purple lines -Minor support and resistance Rejection on RSI
Friday we gapped up and as you can see we got rejected on secondary channel (Yellowline) along with the split channel (White line) . As long as we're are under these 2 lines there's no bear rally coming.
Right now we are sitting right on top of that Purpleline which aligns with 355.50 -356. Therefore, that would be my short entry . My first target would be obviously 350, the. Purpline support around 346..
If we break below 346 we will head to bpthe bottom of that yellow channel around mid 330's..
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