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.


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!