Good Morning traders!
Overnight markets have had a substantial recovery on the back of news the Evergrande will begin repaying the interest on at least one part of its loans.
We are not out of the woods by any means. Price is resting right on the neckline retrace EXACTLY where I predicted we would find resistance.
While I did say I would be looking for buying opportunities in the areas yesterday I still believe we can head lower from here.
All orders would be at break even this point if they are short term, OR I would be prepared to hold through a deeper pullback.
All eyes will be on China for the coming week, if the news is good, expect a huge pump!
As always trade safe,
EnvisionEJ
Overnight markets have had a substantial recovery on the back of news the Evergrande will begin repaying the interest on at least one part of its loans.
We are not out of the woods by any means. Price is resting right on the neckline retrace EXACTLY where I predicted we would find resistance.
While I did say I would be looking for buying opportunities in the areas yesterday I still believe we can head lower from here.
All orders would be at break even this point if they are short term, OR I would be prepared to hold through a deeper pullback.
All eyes will be on China for the coming week, if the news is good, expect a huge pump!
As always trade safe,
EnvisionEJ
