Biotech in bearish trend

50sma has been an important moving average for this ETF.

We see 3 consecutive tests of the 50sma as resistance and a bounce lower.

As we see lower highs and lower lows, the bearish trend is confirmed.

I expect we fail again and test the blue line ($144.5).

Kommentar:

Another opportunity to short is presenting if we can't get above the $144.5 blue line again.

If we test it and head lower, the next target is $130

Trade geschlossen: Ziel wurde erreicht