Main reason for the short bias is the weekly and monthly trend. Ichimoku & ADX on those timeframes suggest the trend is (still) bearish.
Leading up to the holiday period there was no real trend on the daily and ADX clearly confirmed this. I think ultimately price will follow the W/M trend again and head towards that nice round 1k figure. Might make a quick detour and take another stab at the area around 1240 first though.
Ultimately, I'm still looking for good opportunities to hop on the short train...not "right now" though. I want to see what the first few days in the new year bring. Momentum has to pick up first either way.
Will have to reassess if price moves significantly above that yellow level at 1240, especially if there's momentum behind the move.
Leading up to the holiday period there was no real trend on the daily and ADX clearly confirmed this. I think ultimately price will follow the W/M trend again and head towards that nice round 1k figure. Might make a quick detour and take another stab at the area around 1240 first though.
Ultimately, I'm still looking for good opportunities to hop on the short train...not "right now" though. I want to see what the first few days in the new year bring. Momentum has to pick up first either way.
Will have to reassess if price moves significantly above that yellow level at 1240, especially if there's momentum behind the move.