Price will need to break above this box range to show any strength back in the market. A drop below the box range indicates another slide downwards.
Currently, MACD on this 1-hour time-frame is pushing up.
Place your bets.
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Price is battling around the support/resistance level we placed on our previous chart analysis for the 3-day time-frame. Check out our previous Ideas for details.
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Interestingly enough we are still ranging inside of that previous long candle from 3 days ago.
We have dipped above it. We have dipped below it. But we returned inside it. We need to look at the longer time-frames for a bigger picture on momentum and pressure building in the market.
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Despite some breakouts, interesting to see we are still currently inside this trading range.