Kereskedési feltételek
Products
Eszkozok
Last week NFLX was on the spot light for all the wrong reasons. Price plummeted towards $350 while two months ago it was trading around $650-$700. In previous posts we warned traders that a reversal was imminent and that the warning signs were there. Our bearish signal came when price broke below $580.
Blue lines- bearish channelBlack lines -Fibonacci retracements
NFLX is in a bearish trend making lower lows and lower highs. Price has formed a bearish channel in the Daily chart. Price got rejected at the upper channel boundary and 38% Fibonacci retracement of the last leg down. Both are bearish signals. As long as price is below this week's high, we remain bearish NFLX looking for at least a retest of the $350 area if not a move lower.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.