As I was posting yesterday RBL ex was looking like a nice short seeing that we had so many resistance tabs at $38.85. Once we came close to there on the last test I loaded up my puts. We fell down To the .618 fib from that recent swing high to the low of the recent moves a couple weeks ago that we hit. The .618lands around 3550 area. So far we did test that and double bottom on the small time frames. I close half of my puts in that range but currently I’m watching this retest the horizontal trendline that we were using as support previously which now could be acting as resistance. Sort of looking like a Baarish rising wedge leading into previous support. 37. 70 is that range I’m looking for continuous rejection, before opening another short looking to break the .618 fib and head down towards 3315 area
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.