Yesterday, a short-term rebound occurred as expected after prices became oversold with a Bullish Divergence on smaller timeframes. However, if the rebound fails to pass $4,244, it is expected to be a rebound to sell down, with the first resistance at $4,212–$4,189 and initial support estimated at $4,156–$4,142.

• Open short positions if the price fails to break above $4,189–$4,244 (Stop loss on short positions if it breaks above $4,244).

• Cover/buy back short positions if the price holds above $4,156–$4,142; if it drops below $4,142, delay covering until it holds at or below $4,109.