Beanoil:
Price has made its test back to the resistance level of 3200 which has set the floor for a solid bear move. Initial stops are at 3260 for this run and if price would break the 3385 level we will have to turn back to our drawing board and reconsider our bear bias again. In case that our initial stop gets hit we will look at a renewed short entry opportunity later on. Initial target has not been set yet as we first want to see price to get on its way so that we can trail the stop to entry level but we are in for a 10% move at least.
Price has made its test back to the resistance level of 3200 which has set the floor for a solid bear move. Initial stops are at 3260 for this run and if price would break the 3385 level we will have to turn back to our drawing board and reconsider our bear bias again. In case that our initial stop gets hit we will look at a renewed short entry opportunity later on. Initial target has not been set yet as we first want to see price to get on its way so that we can trail the stop to entry level but we are in for a 10% move at least.
