Price has now broken the pendant pattern on the 4HR chart and I expect price to maybe retest and then continue falling.
Price has also been weak around the $1300 level and has been unable to break this level convincingly since 24th of may.
MA's are about to cross on the daily and are down on every other time frame (W,4HR,2HR)
A short position to the next logical price is to $1275
I have placed stops @ $1302 as I feel price will continue to struggle to breach $1300 if there is a pullback.
Price has also been weak around the $1300 level and has been unable to break this level convincingly since 24th of may.
MA's are about to cross on the daily and are down on every other time frame (W,4HR,2HR)
A short position to the next logical price is to $1275
I have placed stops @ $1302 as I feel price will continue to struggle to breach $1300 if there is a pullback.