Price Action
Yet again the major price spike happened while China was asleep. The price shot up through $250, then through $255. The $240-$260 range is proving tough to penetrate. Which ever way this breaks, it will be violent.
Trade Idea
$250 to $255 is a no-go zone. Using XBUJ15, above $255 go long looking for a definitive break above $260 and a sharp rise thereafter. Go short below $250 looking for a re-test of $240, and a break below could point to a serious correction down to $230.
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