Price for S32 has formed an inclining resistance that forms a megaphone when read with the lower support line. It has also put in reversal candles around current price level. When price forms a swing high we will have further confirmation that price is beginning to trend downwards with an objective to close the short position when price forms a swing low near or below the supporting trendline.
If it bounces off the support one can turn long with objective for price to come near the declining trendline resistance, we will review again for a short opportunity.
If it bounces off the support one can turn long with objective for price to come near the declining trendline resistance, we will review again for a short opportunity.
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