SHORTING WALL STREET
US indices are reaching the top of their respective channels and nearing resistance lines too. Given the recent bull run on stocks I'd say that we're due at least a corrective pullback.
We are currently sitting at the top of the bearish channel and I will watch the smaller timeframes waiting to see if the dow jones will pop up to the resistance line last touched on May 5th, this would be the ideal entry point with a conservative profit take at around 32300 - I think it's possible it may drop further.
Happy trading.
We are currently sitting at the top of the bearish channel and I will watch the smaller timeframes waiting to see if the dow jones will pop up to the resistance line last touched on May 5th, this would be the ideal entry point with a conservative profit take at around 32300 - I think it's possible it may drop further.
Happy trading.
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