broke the daily bullish trendline
and closed below. Then it had a swing upwards from the US elections which stopped and reversed right on the longer term bearish trendline
(Weekly). It has now taken the swing lows at the 1241 area. The next swing low comes in just below where we currently are at 1200 and then we will enter an area of previous consolidation (Green rectangle
) where we should see the PA slow down considerably. Since the Bearish trendline
still holds the outlook is bearish
however there are no longer term trades where we are now.