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..
Let's see what happens
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..
Let's see what happens
