We are awaiting a break with volume
of the noted trendline. RSI
is diverging but until RSI
starts an uptrend and price confirms the change, the bears are still in control. Price has retraced to the 78% level. An aggressive trader could enter here and set stop loss at the bottom of the small impulse wave. A conservative trader would wait for confirmation of a break of the trend line
confirmation, and rising volume
over several bars.