https://www.barchart.com/futures/quotes/YY*0/all-futures...

https://www.barchart.com/futures/quotes/YY*0/all-futures



I took a stab just before Tuesday's close when initially price stabbed through that KEY 4.52 and recovered into that day's close. It was always a high risk long play IMO. The forward future IO contracts also signal weakness ahead so all the indicators I "thought" had been factored into the SP trend. Yesterday's close was an early indicator the bears were in control. I was hoping price today would reversed and pop back up. Right from the open I saw a glimmer of hope as the initial run suggested it could be doing that then it just met a wall of selling from 4.43. 4.47 was Tuesday's stop raid low so price had to smash through this level on the way up.

The price action was always on the back foot so I gave it as much as I can and when yesterday's low was taken out I took a 5% loss which is not much in the scheme of a positional hold but 4.52 now acts as a very strong resistance so I don;t want to dig a bigger hole if price continues to drop!

420 Yuan was the previous swing low with prices current just above that level. We are going into a long WE so I don't see any enthuthiasm by the bulls to try and push it back up. A long shot and I always knew I was going against the crowd. Good luck.