breaking support at market inflection point

15 thg 1, 2014

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.