Just last week, we spotted a breakdown of the 3.40 support level that has been holding well since the beginning of 2017….
Trend indicators were also starting to turn down and some short term downside expected..…
Hence, some targets were drawn to the downside where potential short positions can be taken to ride the weakness …
See what was sent out below last week as it happened…
Seems like we are indeed seeing more weakness towards the next target as drawn..
Some short covering may happen near 3.25 but would want to be careful of more bearish price action below this level which may trigger off a new wave of selling…
Downside targets may still be playing out then….
PTI system had some bearish signals recently and then the selling happened accelerated…
No exits…
Hopefully, the next support at around 3.25 holds, watching….
See where we are now below… Be a client to be notified of dangers like these faster….. click here..
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