A large bearish pinbar
is currently forming off of a key resistance level
. Keep in mind that there are a few hours left in the market so this pattern will not be confirmed until it has fully formed as a bearish pinbar
and today's candle has officially closed. If the candle does close the day as a bearish pinbar
then we could see price rotate lower over the next few weeks. If the candle closes as a bullish candlestick
, there is still opportunity for a new bearish pattern
to form but we could see price rotate even higher towards the 97 range. How today's candlestick
finishes forming will tell us a lot.