Our short target is 3300.
Based on the geopolitical fundamentals and the FED tightening program, we think that the Inflation situation will be the same problem for the equities such nowadays.
Our timing for the ground 3300 target is around 24-th of August.
The risk of short squeeze to 4170 levels still exist, and for this reason we have to be careful with this trade.
When we reach the 3300 levels, the market will find long term support and we expect long term range between 3300 – 4400 levels