From previous call, we have seen the 3.30 support break down and down it went quickly towards 3.10 next support.
Was holding above it for a few days and today we saw a sell down again below the key 3.10.
Note that we can see more weakness if it trades below 3.10 now with next downside target at 3.00.
Short term trend looks weak with MACD also pointing lower firmly. Cautious long.
For illustration purpose only
From the system, we actually had MORE Bearish Entry signals last week and down it went, see below
The first Bearish 1ET signal came on 11 AUG 2016 with an Entry price of 3.77 and it has been trading lower ever since.
For the Bearish signals last week, we still have NO EXITS yet so there can still be more weakness.
System aside, a short term negative with it below 3.10 now... cautious long positions.
Look forward to reveal to my next batch of students EXACTLY what goes on behind the signals and also give them private access to this very system, see you guys in 2 weeks time J