After hitting a major daily/ weekly resistance, it seems as if bulls are losing steam from lower highs however this current support area is staying firm.
Expecting this support to give in soon though, with validation from a potential MA cross between the 50 & 200 day MA's. if so, this should bring price bearish until we reach 50% fib of this overall impulse to the upside. Maybe looking to go long later on in the few weeks however for now as long as this support level 1.704 gets broken, we are bearish.
Expecting this support to give in soon though, with validation from a potential MA cross between the 50 & 200 day MA's. if so, this should bring price bearish until we reach 50% fib of this overall impulse to the upside. Maybe looking to go long later on in the few weeks however for now as long as this support level 1.704 gets broken, we are bearish.