Near is Close to End its Upside Correction
Near prices are going down since July 20. Prices have hit the low at 0.9960 on August 17, and went into upside correction, which is now seen nearing its end. Thus, a short trade could be considered at 1.2250-1.2430, which is a possible strike area of the resistance of the downward channel. A target for this trade could be set at 1.0870, which is the low of August 22. The stop-loss could be placed at above 1.2850, the high of August 16.
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