Look at this interesting situation. On a daily chart
it is pretty obvious that the price broke the upper line of a descending triangle
, but now bears are pushing the price lower. On a 60 minutes chart we can see that the price has moved sideways for a while, but now there are signals that it can continue to move lower. A break below the local
support could signal a drop towards 38.2.But the question is: will it stop at this level, to be considered a retest on the triangle's line, or it will continue lower?