Overall, longer term, We're heading to test that top of the channel. Medium term, I can make both a bullish and a bearish case here short term, so using more of a guide and watching closely. If we break below the yellow FIB sub channel, we're probably going to pull back to the bottom of the channel.
BULL CASE: Strong bounce of bottom of the channel, yellow FIB sub channel acted as a strong pivot as well as last thu
BEAR CASE: Historically, lots of head fake bounces before heading to top of channel, need to test bottom channel a few times before the trend changes.
BULL CASE: Strong bounce of bottom of the channel, yellow FIB sub channel acted as a strong pivot as well as last thu
BEAR CASE: Historically, lots of head fake bounces before heading to top of channel, need to test bottom channel a few times before the trend changes.