2300 is proving to be a major point of resistance. Profit taking is taking place currently as bigger bag holders slowly take profit at the top.
To stay within the trend Channel we will open a short here with a tight stop loss looking to take profits at 20000, its likely it will will go below that but we will take profit at this point as on the last dip yesterday 2000 provided good support.
it should bounce strongly upon hitting bottom so insure you have a profit stop in place if you are not online.
if we do break the current resistance line go long targeting 2600 but it seems a correction is required at the over sold levels.
To stay within the trend Channel we will open a short here with a tight stop loss looking to take profits at 20000, its likely it will will go below that but we will take profit at this point as on the last dip yesterday 2000 provided good support.
it should bounce strongly upon hitting bottom so insure you have a profit stop in place if you are not online.
if we do break the current resistance line go long targeting 2600 but it seems a correction is required at the over sold levels.