Strong resistance @ 2900 last night. I shorted @ 2840 then I added as it moved in my favor, I now have a substantial position on the short side with an average price of 2805. My TS is currently @ 2789…
Looking for a further push down – we will see some retracing to the upside first (hopefully not all the way to 2789) before it can gain enough momentum to break 2700. Very strong support there…but once that is cleared we should see 2500 and I am hoping we see 2300 soon too. I don’t think a huge bearish downside move is asking too much do you?
Check the comments to see my position updates. Happy Trading.
UPDATE – Woke up this morning just in time to watch my stop get hit. Will wait for a peak and momentum to build before I short again…I know one thing, 2700 is TOUGH.