There's a confluence of structure here that supports the likelihood of a reversal.
1) trend resistance
2) (bear) pennant
3) At this price level, around R2 weekly pivot. there have been reversals in the past (see left)
If we get a break of this pennant structure, short this all the way down so monthly S1 which seems to act like a magnet.
1) trend resistance
2) (bear) pennant
3) At this price level, around R2 weekly pivot. there have been reversals in the past (see left)
If we get a break of this pennant structure, short this all the way down so monthly S1 which seems to act like a magnet.
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