The longer-term picture still has not had its well deserved correction as yet.
The high from 18.37 to low 10.00s and back 13-14 range only has reduced the overbought situation, but still its very high.
For that reason, for those that trade long-term, SELL strategy between 13.50-16.50 remains the strategy for now.
It is expected to see low 9.00s even though fundamentals may tell otherwise, and who knows fundamentals support the new designed method by the government.
Let's see how things develop long-term. Short-term range trading for now.
The high from 18.37 to low 10.00s and back 13-14 range only has reduced the overbought situation, but still its very high.
For that reason, for those that trade long-term, SELL strategy between 13.50-16.50 remains the strategy for now.
It is expected to see low 9.00s even though fundamentals may tell otherwise, and who knows fundamentals support the new designed method by the government.
Let's see how things develop long-term. Short-term range trading for now.
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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.
Disclaimer
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.