In our last TRX update we said that the next good buying opportunity could be between 354 and 335 but since then we changed it to 315 because of the lack of confluence between horizontal and diagonal support. Unfortunately the market completely ignored this level and it fell right thru it. Even without looking at ADX we can see a clear acceleration of the downtrend and if it continues we will need to draw another channel with steeper trend lines. We failed at 315 and got stopped out but if the prices continues to fall our next candidate for a potential swing low is 220.
