Daily> Price is currently in a descending channel, trading at the support level.
> break of support level 135.400, retested
> strong bearish candlesticks
>RSI just above oversold status
4HR> M.A cross over to the downside
> RSI over sold
>Strong trndline support
Prediction> IF trendline support level holds THEN i predict price will reverse towards 134.00 res.
IF price breaks support THEN i predict price will continue to the next level of support at 131.00 level
price is currently trading at 133.140
> break of support level 135.400, retested
> strong bearish candlesticks
>RSI just above oversold status
4HR> M.A cross over to the downside
> RSI over sold
>Strong trndline support
Prediction> IF trendline support level holds THEN i predict price will reverse towards 134.00 res.
IF price breaks support THEN i predict price will continue to the next level of support at 131.00 level
price is currently trading at 133.140
Comment:
Price has broken support, pushing my bias into bearish, I predict price will possibly retest as RSI is oversold, before continuing to 131.00 support