Short
breaking support at market inflection point
The market is trading very close to an inflection point (intersection between long-term and short-term channels). Very often, price tends to avoid these inflection points. The market is also trading on very sturdy support (800) which is a major price reversal level.
Inflection point + breakout from long-term channel + major price reversal level point to a clean bearish breakout of the 800 level.
Inflection point + breakout from long-term channel + major price reversal level point to a clean bearish breakout of the 800 level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.