Hubert Senters here.
Let’s take a look at XEL potential short. Looks like it’s got the potential to drop to $60 so we’ve got one close back below the cloud here and then it bounced four days overhead resistance turning in standard line yellow and purple. And now we’re closing below the cloud again so it’s a really good sign.
The lagging line is following. So that’s a good sign too if we can get one more bar below the close it would be a pretty conservative short. Heads up, here’s no such thing as conservative trading. It’s all risky.
But we’ve got some decent support right here around the $60 area $59.30. And then you got a little stair step, a little ladder you’ve got another $58 and then the last one down in this area at $55 so potential short stop would be around $63.33. Target one $59.30, target two $57.98 and target three $55.84.
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Good luck. Hope it helps. See you on the next video.