Price has been bearish all month. There is a high chance that it can continue to the major level of support. Daily Candle has closed below the 200EMA which indicates that price has a higher probability of continuing its down trend. Whenever candles start printing below the 200EMA, this is usually a sign of a trend reversal. Anticipating a pull back early in the week but then a continuation to 33600. If price breaks the market structure and fails to form support, there could be more bearish momentum heading towards the end of the month and going into February.
1. Price has been bearish all month. There is a high chance that it can continue to the major level of support
2. Daily Candle has closed below the 200EMA which indicates that price has a higher probability of continuing its down trend. Whenever candles start printing below the 200EMA, this is usually a sign of a trend reversal. Anticipating a pull back early in the week but then a continuation to 33600
3. If price breaks the market structure and fails to form support, there could be more bearish momentum heading towards the end of the month and going into February
1. Price has been bearish all month. There is a high chance that it can continue to the major level of support
2. Daily Candle has closed below the 200EMA which indicates that price has a higher probability of continuing its down trend. Whenever candles start printing below the 200EMA, this is usually a sign of a trend reversal. Anticipating a pull back early in the week but then a continuation to 33600
3. If price breaks the market structure and fails to form support, there could be more bearish momentum heading towards the end of the month and going into February