Breakout Trade Idea - Update
Looking at the 5m chart we can see the recent breakout above the resistance level of 980 has occurred but is clearly losing momentum. Watch for a test of support at 980 to confirm this upmove. If support is not achieved at 980, then we will likely see prices move to the lower level of support at 860 and possibly much lower.
As shown on the chart, RSI is currently divergent with price and volatility has declined further. Somethings gotta give otherwise this is going to be a dull week of trading.
Looking at the 5m chart we can see the recent breakout above the resistance level of 980 has occurred but is clearly losing momentum. Watch for a test of support at 980 to confirm this upmove. If support is not achieved at 980, then we will likely see prices move to the lower level of support at 860 and possibly much lower.
As shown on the chart, RSI is currently divergent with price and volatility has declined further. Somethings gotta give otherwise this is going to be a dull week of trading.