1M Last Month’s Candle closed as a bearish engulfing after testing the EMA resistance. EMA also crossed to the down side.
1W 2 weeks ago we saw a hammer form at the bottom of the down trend, this was rejected by the monthly support level, forming a lower low. Followed by last week’s doji which tested the EMA resistance. EMA pointing downwards.
1D Yesterday’s candle closed with indecision in the market, Doji, which closed below the EMA resistance. If today’s price looks like it may close as an evening star.
4H Price rallied to a key fib level twice, with the second time giving way and dropping breaking the CTL. Alongside this the EMA has crossed back downwards. Last 4H candle has now closed below a monthly key level, turning the momently level from support to resistance.
KS