With the Bollinger Bands tightening and market at more critical levels it is likely to see a better move coming up short-term.
Bears are still in firm control as the pattern of lower highs and lower lows is still unbroken. A downward sloping line holds any attempt north in check (around 0.03650 currently).
Should market break below the latest low (0.03449) the the lower Bollinger Band is likely to be seen (around 0.03300); Bulls could try and get market to bounce from there but if unsuccesfull downside risk extends to the mid 0.02870/0.02800.
Bulls like to see the following scenario; break down to 0.03300 but close above the latest low again. If this can be followed by a move over the latest lower high (0.04150) then a bottom scenario can come into play.
Bears are still in firm control as the pattern of lower highs and lower lows is still unbroken. A downward sloping line holds any attempt north in check (around 0.03650 currently).
Should market break below the latest low (0.03449) the the lower Bollinger Band is likely to be seen (around 0.03300); Bulls could try and get market to bounce from there but if unsuccesfull downside risk extends to the mid 0.02870/0.02800.
Bulls like to see the following scenario; break down to 0.03300 but close above the latest low again. If this can be followed by a move over the latest lower high (0.04150) then a bottom scenario can come into play.