As regression indicates, overall sentiment is still more bearish than bullish.
Having said that, it seems like price is trying to find a bit of a bottom. I'd prefer hopping in short at a pullback and will keep an eye on price action at 2350 and 2368ish. Should 2350 break strongly to the upside, I might be tempted to take a shorter term trade up towards the next potential rejection point at 2368.
On the other hand, should bearish momentum remain and price bounces off 2350 to the downside, I'd obviously be happy to re-enter shorts. Same with a convincing break of 2340...although if that happens I might prefer to enter short after a retest of 2340 from below.
Can't think of any real reasons why it would suddenly turn bullish again and break through 2368...so that's my line in the sand when it comes to my overall bearish sentiment.
Last week's outlook was spot on :)
Having said that, it seems like price is trying to find a bit of a bottom. I'd prefer hopping in short at a pullback and will keep an eye on price action at 2350 and 2368ish. Should 2350 break strongly to the upside, I might be tempted to take a shorter term trade up towards the next potential rejection point at 2368.
On the other hand, should bearish momentum remain and price bounces off 2350 to the downside, I'd obviously be happy to re-enter shorts. Same with a convincing break of 2340...although if that happens I might prefer to enter short after a retest of 2340 from below.
Can't think of any real reasons why it would suddenly turn bullish again and break through 2368...so that's my line in the sand when it comes to my overall bearish sentiment.
Last week's outlook was spot on :)
