Looking at our trend timeframe we see price continuing to respect our downtrend, stochastic rsi showing momentum is in heavy favor of bears with no signs of reversal. Will be watching smaller timeframes for a reversal near our 150 support level, until then sitting on my hands.
Shifting over to our pattern timeframe we see price found it’s resistance off our trendline and we are now looking to form a lower low at the bottom of our channel near 150. A daily close below 260 and expect our sell off to continue, however if we see ad daily close above 300 and we should see some bullish movement.
