Price is stepping down and still obeying structure, we have to respect the downtrend we are presented with and have a bearish outlook until we see a structural shift as illustrated. We had a huge bearish engulfing candle on the weekly timeframe so a pullback is likely but not 100%, the market conditions have changed quite a bit recenty and we are finding that impulsive moves continue without any real pullbacks now a days which is a shame, that is why we need to utilise the lower timeframes more.
COT Data - 50/50 (Indecision)
COT Data - 50/50 (Indecision)
