The price on Friday was closed at the lowest low, because of that, there are still some forward downtrend momentum. The key levels are 1810, 1796, 1784, 1773, and 1764 ( Base on the last year price rejections ) Because of that, the safest trade is to wait for the confirmation for the price rejection.
Neutral because
For SHORT because 1. Price : There is no sign of rejection yet ( Momentum is down ) 2. Trend : There is very strong down trend. 3. News : Last week news data supported the bearish movement
For LONG because 1. Price : The price has entry the rejection zone already 2. Fund : There are some liquidities to grab if the price went up 3. Balance : Because there was a lot of sellers last week, therefore, there would be more buyers this week ? ( Balance of power )
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