Price just bounced off the HMA200 and returned inside the Cloud without
finding support.
On the right side we can also see Bearish Divergence between the latest
tops, which warns of a move down and taking out of the 10890 low. A close
below that level will expose the Daily S1 and low around
10050. If price manages to find support by the Daily pivot point and being
unable to take out the previous low, chances are we will see another attempt
to breach the Cloud and the HMA200. Resistance above current high is at 11800.
finding support.
On the right side we can also see Bearish Divergence between the latest
tops, which warns of a move down and taking out of the 10890 low. A close
below that level will expose the Daily S1 and low around
10050. If price manages to find support by the Daily pivot point and being
unable to take out the previous low, chances are we will see another attempt
to breach the Cloud and the HMA200. Resistance above current high is at 11800.
Comment:
Though price has crawled slightly higher today and has tested the daily pivot point around resistance level 11800. The bearish divergence is persistent (price and volume based divergence).
