MPI continued to drop today. 

Price broke below the 61.8% Fibo level.
It may find support at the 78.6% Fibo level at 6.05
If that fails, full retracement to December 2016 levels at 5.76

Volumes are higher today compared to yesterday.
There is no sign of reversal yet. Stochastics have not yet crossed over and price is still making lower lows.

If you don’t have this, stay away. If you already have this, sell on strength. This is already oversold.

 

mpi

 

More charts at Bookaka.com.
Subscribe to my Bookaka premium service. 
Details below:

https://pixiutrades.wordpress.com/2017/03/20/simple-trader-at-bookaka-com/

Advertisements