Venture

Commentary:

From intermediate to short term, the trend is down. Price broke 10 yr low on heavy volume. This is a very bearish sign and any rebound will probably be capped by the short-term upper downtrend channel line.

Strategy:

Short-term traders can consider shorting on rebound with tight cut-lost set at above upper downtrend channel line. Price target would be for price to test the lower downtrend channel line. A continuous 2 days closing of price above the trend channel will signal an immediate reversal. Price would than be likely to test the intermediate down trendline as drawn.