TP = 1,213.78 hit as the 4H Falling Wedge
= 38.425, MACD
= -1.870, Highs/Lows = -2.1478, B/BP = -6.9280) slowly declined to make a near test of the 1,211.40 annual low. We are on a critical point now where this Falling Wedge
meets the line of the Descending Triangle
. A break-out of the annual low will test the July 2017 low = 1,208.70 and the March 2017 contact point = 1,196.20. A rejection will see the price bouncing to at least 1,222.08. According to the 1D bearish Channel
(Highs/Lows = -2.4814, MACD
= -10.380), it is more likely to het a new Lower Low, so we are going short on the break - out point, TP = 1,208 and if broken even marginally we will extend it to 1,200. The fundamental catalyst will probably be Friday's Nonfarm Payrolls.