BOME
I posted a market reading a month ago, Figure 2. At that time, the price was 68, and the view was to maintain a short-term bearish outlook.
The current price is 59, proving that the previous analysis is correct.
In terms of form, it has now formed a triangle convergence, and it is very likely that there will be a breakthrough in a certain direction within 10 days.
I think the probability of a downward breakthrough is greater, that is, bearish!
The key position below is around 55, the white line in Figure 1.
In terms of operation, you can try to short if it rebounds to around 61.
If it breaks through the green line upward, the corresponding position is about 63
then the above bearish view is not valid, and it turns to short-term bullish.
This is also the stop loss for shorting.
