We had a really good sell-off yesterday. If you managed to catch it, then great, but if not, then I think you can still catch some more selling, as I think that this will be moving higher.
Could be a possible entry right now for a SHORT, or you could try and see if it will retrace back to the 100 MA and then fall off.
But let's see what it does. I believe, that it can go lower to at least around 47.20 level. If that level will hold, then we could see a bounce towards the upside again, as the general trend is up. But if the trend line get's easily broken, then a change in the direction to the downside is here to stay for a while.
As always, be careful and keep an eye on the price action!
Could be a possible entry right now for a SHORT, or you could try and see if it will retrace back to the 100 MA and then fall off.
But let's see what it does. I believe, that it can go lower to at least around 47.20 level. If that level will hold, then we could see a bounce towards the upside again, as the general trend is up. But if the trend line get's easily broken, then a change in the direction to the downside is here to stay for a while.
As always, be careful and keep an eye on the price action!