The DAILY candle close was a bearish engulfing
candle indicating sellers are taking control. However, we have to know any sell opportunity is temporary due to the DAILY timeframe
moving averages still being bullish
. With the DAILY engulfing
candle, we see a crossing of the moving averages on the H4 and H1 timeframes. The short term sell opportunity targets will be in between the 38.2% and 61.8%.