To me, it looks like bulls have run out of steam a little for now. "3 inside down" candle stick pattern on the 4-hour after a double top rejection. The $11,200 (purple line) resistance is a little too strong for now and bulls are running out of steam for the time being. We'll be back, but for now I think it's headed down to consolidate.
For confluence, we have RSI headed down and MACD crossing over.
What do you think? Even without those, the resistance rejection is enough of a sign?
For confluence, we have RSI headed down and MACD crossing over.
What do you think? Even without those, the resistance rejection is enough of a sign?