The market is forming a new high swing lower than the previous one. It's not good for the bulls because it's just an extra signal to confirm the downward movement. RSI confirms price reversal. The MACD lines and the histogram support the downward movement. DMI is bullish but the ADX line falls. This tells us about a correction movement.
If the price falls below the local support line, the market will move lower towards the MA support zones and uptrend lines. Price action in these areas will give us more details, whether the market will continue its uptrend or whether we should be ready for other market conditions.
To confirm the continued upward movement, the price will have to break the local downtrend line
what's your prediction for this?
