Trade idea.
After last week's heavy slide, the index is trying to recover somewhat, but it has got a few strong barriers to overcome first. If it struggles to move back above the 3500 barrier, we may see another round of selling, possibly bringing the price back to the 200-day EMA, or even below that. For now, we remain cautiously-bearish.
Please see the chart for levels, targets and the alternative scenario.
Don't forget your stop-loss.
After last week's heavy slide, the index is trying to recover somewhat, but it has got a few strong barriers to overcome first. If it struggles to move back above the 3500 barrier, we may see another round of selling, possibly bringing the price back to the 200-day EMA, or even below that. For now, we remain cautiously-bearish.
Please see the chart for levels, targets and the alternative scenario.
Don't forget your stop-loss.
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