As expected we broke the channel within the channel.
Looks like we found support on the bottom line of the bigger channel. Crucial that this support holds.
I assume that we will see a price drop again if we fail to get back into the channel.
Short Term View: BEARISH
Redrew the channels now that we have more data.
The direction is looking clearer now and unfortunately we can see some bearish divergences
RSI is losing strength while the price is slowly moving up.
There are just too many resistance factors that makes me strongly believe that we will see another price drop.
I will be looking to short at the green boxes
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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.
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