CLF7:
Date: 7 Dece,ber, 2016
H4 Графика: Средно срочен лонг
The price came up but it found resistance at $52.40. Now the price is forming 3rd Lower high and possibly forming a H&S. If this figure did break and confirm prices belore $50 we may see look for possible short setups.
Price Action: Head & Shoulders formation - Signal for possible end of the move up.
Technical Indicator:
DEM (14) - Close to the oversold zone
Alternative Scenario: If the price does not make a break below $50, this bearish view might be wrong and it might be very possible to get a signal for long instead.
Price for Entry short around: $50 - Wait for a break below $50 mark and retest of this level for short.
SL: $51.50
Jr. Trader - S. Fuchedzhiev
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