No doubt it is bearish. However
1. If blue support can hold this week, short term trend can change in favor of it (like 3/2012 case).
2. if it can go above the pink line, that will be bullish and can possibly challenge previous high.
3. If blue support breaks this week, further down to $110 level is likely.
1. If blue support can hold this week, short term trend can change in favor of it (like 3/2012 case).
2. if it can go above the pink line, that will be bullish and can possibly challenge previous high.
3. If blue support breaks this week, further down to $110 level is likely.