The trend is bearish on the Higher timeframe and confirmed with the RSI indicator.
We have a Descending chart formation. It could go both ways but more aligned with the short direction, but if and only we breach the current support at (0 fib level) $4.427, stop loss is $4.272. Or if it retests and breaks the resistance at (0.236 fib level) $5.401.
Note: I am new to charting and open to corrections. Thank you.
We have a Descending chart formation. It could go both ways but more aligned with the short direction, but if and only we breach the current support at (0 fib level) $4.427, stop loss is $4.272. Or if it retests and breaks the resistance at (0.236 fib level) $5.401.
Note: I am new to charting and open to corrections. Thank you.