H1 time frame.
The price has consecutive low highs and lows confirming the downtrend.
However, the price is still holding firmly in the sideway from 46400 to 49400.
The 46400 price area is critical support. Here, waiting for a bullish signal again, price can move towards the target of 49400.
In case the falling price breaks this support level, it is necessary to wait for more confirmation that there is a mid-term downtrend.
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Wish you all have a good trading day!
The price has consecutive low highs and lows confirming the downtrend.
However, the price is still holding firmly in the sideway from 46400 to 49400.
The 46400 price area is critical support. Here, waiting for a bullish signal again, price can move towards the target of 49400.
In case the falling price breaks this support level, it is necessary to wait for more confirmation that there is a mid-term downtrend.
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Wish you all have a good trading day!
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