Technicals: Price is currently at point 'C' of a possible Cypher pattern
. C almost touched a previous trend line
established since October that has been touched three times and closely approached twice. C also almost touched the 0.618 retracement
from the downward movement spanning mid-March to late-April. C is also the beginning of the third drive of a three drives
pattern. Price movement to 'D' would complete the Cypher
and third drive. Price may then turn around and retest the trend line
that is in place.
Fundamentals: Low to medium importance economic data to be released over the next few days.
This is a possible short followed by a long trade. Trade at your own risk.