Just yesterday, we spotted some weakness with Hi-P approaching the 1.70 level.. when it was about 1.71..
Sellers were trying to take it lower to test this critical level that has been holding for more than a month...
Indeed a break down today where we can see more weakness towards 1st target at 1.60 as drawn...
1.50 would be a good support for now where any short covering or bargain hunting can return...
Therefore, downside still possible on any specific price action below 1.60... especially with indicators turning lower on today’s move...
Cautious long positions in the short term for now... Let’s see if next target plays out well....
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