When studying price action it is well worth our while to study price action in relation to the 200 MA. It often (but not always) serves as dynamic resistance or support. This is for educational purposes and is not a signal to buy or sell.
LONG TERM OUTLOOK..NOT FOR TODAY PER SE..
When we study we must look on the lower timeframe and trade according to what we see on the lower time frame. Thus, this is For educational and demonstration purposes. Trade at your own risk. Fib extension confluences with lower trendline as noted.