VRX a possible short with tight SL

17 Nis 2018

In the last days vrx has seen a small rally and the price reache 17,23 dollars. This is the area where there is a first resistence as the top reached in March. A break of this line will have as a second step would be around 17.90. Unfortunately yesterday price closed with an hammer so a backdown movement is probable till the bottom line. It is not escluded that price will get into the trading range between the red lines. In both cases red/red or red/yellow what I see is a consolidation phase that at the moment is still bearish. Only a violent movement or with strong volume would change the picture.