Price previously broke out of the long term ascending trendline, & has now made a new lower high retested the daily descending trendline to finish off last week with a bearish reaction.
This upcoming week, I am looking for price to decline back towards the lower boundary trendline, & if price can clear that region we may see some further decline in the weeks to come.
This upcoming week, I am looking for price to decline back towards the lower boundary trendline, & if price can clear that region we may see some further decline in the weeks to come.
Comment:
on 4 hour: Price formed a head on shoulders pattern & broke the neckline to the downside. Next, on the lower timeframe I would like to see a retest of the broken support as new resistance, for price to resume lower.
Comment: