We can see that the tech stocks are huffing and panting its way up. It probably need a rest.
In the 1H chart, it has broken down from the bullish trend line. If 10,403 support fails to hold, then we will see it falls through and goes down to 10,200 first.
Noting that the bigger time frame like Day and weekly chart are still bullish, this short term fall might be over faster than we want it to fall. Thus, to short now is a counter-trend strategy and ensure you have enough ammunition and employ stop loss to protect your position.
In the 1H chart, it has broken down from the bullish trend line. If 10,403 support fails to hold, then we will see it falls through and goes down to 10,200 first.
Noting that the bigger time frame like Day and weekly chart are still bullish, this short term fall might be over faster than we want it to fall. Thus, to short now is a counter-trend strategy and ensure you have enough ammunition and employ stop loss to protect your position.
