A price action below 80.00 supports a bearish trend direction.
The target price is set at 75.00 (between the 38.2% and 50% Fibonacci retracement level).
Notice how the 200-week acted as major resistance.
The stop-loss price is set at 83.00.
A bearish MACD crossover (see the lower panel) conformed a change in trend direction.
This crossover also occurred in overbought territory, giving lead to a quality technical signal.
The target price is set at 75.00 (between the 38.2% and 50% Fibonacci retracement level).
Notice how the 200-week acted as major resistance.
The stop-loss price is set at 83.00.
A bearish MACD crossover (see the lower panel) conformed a change in trend direction.
This crossover also occurred in overbought territory, giving lead to a quality technical signal.