$VELVET Riding high to go short velvet; at present the market is almost certain to be moving downward. The subsequent trend is likely to keep grinding lower with more bearish sessions. The daily chart’s high is 2, with two double tops. Trying to go long and bet on a rebound back up won’t work.

Capital keeps flowing out, with no new funds coming in. At this current support level, it’s hard to hold steady. You may see price move back toward the level where it initially rose.