Price has formed a head and shoulders pattern, and has retested the neckline as resistance. The RSI has broken below the 50% level, and we anticipate a bearish move to continue.
On the 1H chart price is clearly cycling to the downside, and we are looking for the -61.8% fibo to be hit. Recent highs are our violation level.
On the 1H chart price is clearly cycling to the downside, and we are looking for the -61.8% fibo to be hit. Recent highs are our violation level.