Price is trending down on this daily time frame and confirmed with higher time frames. Price has recently retraced to a major support area
and formed a long tailed bar. The long tailed bearish
bar indicates sellers have taken control of price over the last 24 hours. Price has tested a major support area
and was rejected which is also at the 50% Fibonacci level. All these indications make me biased towards a downward move. Entry can be placed half way of long tailed bar, stop placed above the high of the candle and target at next are of long term support. Reward is 2:1.