Price is following a heavy downtrend structure making lower lows & highs. Price this previous week printed a fresh lower high into the red resistance zone forming a rising wedge bearish reversal pattern, & finished off last week breaking the pattern with heavy bearish momentum.
This upcoming week, I am looking for a pullback on the lower timeframe to retest a previous key area of support as new resistance, for price to resume the impulsive stage of the downtrend for a new potential lower low next.
This upcoming week, I am looking for a pullback on the lower timeframe to retest a previous key area of support as new resistance, for price to resume the impulsive stage of the downtrend for a new potential lower low next.
Comment:
4 hour: Outlook