Price broke through the double top
, and retested it. Look for one more leg higher to hit the 38.2% FIB from the long down move on the HTF
, which also coincides with the previous high (and also role reversal level), and also the top of the corrective channel. There's a gap that has not been filled yet in that leg higher. We have bearish
divergence on the MACD
, and there is a 5 wave pattern on the 4H TF which is being supported by the small trendline
posted in the chart. Wave 5 is about to finish at that top. All down hill
from there as this is a corrective structure, and we should see an impulsive move to see lower lows.