Price failed to close out D1 at 2500/H1 200EMA yet still remains around daily piercing.
Momentum is now assumed as bearish however the chance of another inverse head-and-shoulders is now in play with the possibility of an H4 double-bottom follow-up.
If sellout does continue we should look towards 2380 as the next critical support followed by 2300 as expected low.
Given the recent breakout, consolidation within the wedge pattern doesn't mean much although resistance/support continue to be important markers.
However note that it's possible to expand this highlight to include more breakout PA + early December PA which would re-validate consolidation.
www.tradingview.com/chart/gDBkksfy/
Momentum is now assumed as bearish however the chance of another inverse head-and-shoulders is now in play with the possibility of an H4 double-bottom follow-up.
If sellout does continue we should look towards 2380 as the next critical support followed by 2300 as expected low.
Given the recent breakout, consolidation within the wedge pattern doesn't mean much although resistance/support continue to be important markers.
However note that it's possible to expand this highlight to include more breakout PA + early December PA which would re-validate consolidation.
www.tradingview.com/chart/gDBkksfy/
