The charts are indicating one of two things: 1. a buying opportunity or 2. the start of a negative trend.
The daily showcases the potential negative trend via the DMI, despite seeing support at current levels.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMzi7X6TpHnC7-fXAbkllODCIKhVc-z0ROVGV0PilUU5Fa5Un_qxaG3af0UF3nDVG2elY0JJzrBktinQD1ZHz1CP81MGxIhLGfew1XbseZW3cTiRX0T9tK0ayHOuWTUMc24JfbslWpl-M/s400/sc-2.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwXdlou-d9DtOgw88o5ZhgHAuq91ca5-ITeeMBQCRYJeMgaGUn8ucafcxheq9iI4TtuTI0Q99hPxl3JeQiQDcdIT6zuU-a0c7fkUHCIa2uW-4mQabBS4LysC_LMoOVRfQ4GJitZFdlzzE/s400/sc-3.png)
Unless there is some negative backdrop I am not seeing, or the China deal they just announce was really bad news instead of good news, I viewed this set up as a buying opportunity.
(I purchased at the daily 50SMA, and plan on doubling down if 37-40 is seen.)
Thanks Echo!
ReplyDeleteMuch Appreciated!