Not much to add to Last Weeks Analysis, except that i have also added Open Interest to the chart. You can well see that Open Interest is at Record High for Last 7 Years. In fact it is at all time record high for last 25 Years. So be Careful. With Bearish COT Commercials and record high OI, My Bearish call has a solid backing and reasoning
@Dguaman, As a general rule, i do not believe and like forecasting.
I will always advice to do whatever market tells you to do in your TIMEFRAME.
However keep in mind your risk tolerance and General market conditions.
For example this analysis based on weekly chart and COT can take a few weeks to months to turn down.
This is not a trading advice, but just analysis. How you turn this to your benefit depends on you.
All the Best