Looking on the 4H here, it seems as though we have a descending triangle here that could play out. I can see this triangle touching the bottom support, failing to bounce off of it and instead breaking lower, as descending triangles usually do.
Another thing to pay attention to is the 4H RSI, which is currently in a downward channel. It has recently touched the top of this channel, and is currently headed back down towards the lower support.
I will be keeping an eye on both the triangle pattern and the RSI channel.
Good luck,
Vik
Another thing to pay attention to is the 4H RSI, which is currently in a downward channel. It has recently touched the top of this channel, and is currently headed back down towards the lower support.
I will be keeping an eye on both the triangle pattern and the RSI channel.
Good luck,
Vik