Moving into an area of interesting price action. Keep on eye on this one for a movement breakout. The obvious logic of this, is that it's a short, but don't be too sure. There's a lot going on at the moment and it is worth waiting for an outcome where we can see legitimate selling pressure.
NOTE: Despite not being labelled on the chart, we have heavy MA convergence, signalling consolidation, but more importantly.. After MA convergence we would expect to see a strong price move in the direction it goes.
NOTE 2: I am only looking for shorts off this level, I'm probably not interested in longs from here, unless we see significant action. Which seems doubtful..
Best of luck
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