Update from my previous post. Upon review of todays price action, my analysis indicates a short. Price initially broke above the red line becoming support and then broke below it turning it back into resistence. Also, given the momentum of the sell, coupled with it reacting at a daily point of interest gives me confirmation of it continuing its higher time frame bear trend. The next step is to see price retrace back to the red line which I anticipate as a result of it touching a bullish trendline on the daily timeframe. At that point will be a good time to watch for conditions to sell.