Massive short move coming for EJ tomorrow?

10 Jun 2015

recent market bias is in a downtrend following the recent touch of the upper channel trendline (weekly TF). Price action is indicative of a large subsequent to the double top formation. Price is currently basing at neck line (however we seem to be making new lower highs this is further confluenced by bearish MA cross over). A strong close below the neckline and daily ascending TL would guarantee (almost) a nice short move down to the region of 136.5 which is the base of the most recent valid demand (red zone) and is further validated by the range length of the double top bottom (which ive duplicated down to demand zone.