Relevant Key Levels: Support at $1445. Resistance $1610, $1650 and $1690.
Price Action: Price collapsed after a false break above the previous high at $1690. A Bearish Pin Bar formed mid last week, providing a further catalyst for massive declines into the end of last week.
Current Notes: There is major prior support at the $1445 area. Price collapsed below the $1650 and $1610 key levels (now short term resistance).
Trade Idea: We will consider looking to buy at $1445 after a price action buy signal, targeting a move back up to $1610 to $1650 area initially.