CityDev

A trend is assumed to continue its momentum until it changes direction. Short-term downtrend intact. Cluttering just under the trendline. 52 wks low. As the saying goes, high gets higher....low can gets lower.. Today price action drops with huge volume. Shortist can initiate short position anytime just under the cluttering price action under trendline. Cut lost if price break up above trendline.

For long players, watch for breakup with strong vol and overall change in macro news around the world especially those flowing out from US. Take profit once price action nears longer term downtrend line.

Happy Trading.