Currently looking at this short position on IXIC focusing on the 0.618 fib located at $6952. The fundamentals maintain this short play, with the downside protection broken.
Ascending channel broken for the second time, fibs support a drop, EMA 50, 100 & 200 on 4H and 1D are all broken to form resistance. No obvious resolution to trade war.
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Positive news from America regarding the trade war sparked a market rally. Could see significant upside should the talks progress positively.