Fitting a fib wedge and time periods over the current price action yields some interesting correlation.
The daily chart doesn't look too good and this 2h chart doesn't seem to be any better. The bearish consolidation we have been in this week seems to confirm the daily MACD cross-down is in effect, however; the high amount of moving average convergence in this zone will likely limit the January / February down motion to something more gradual. Profiting on these small price swings may require leverage. Selling pressure may pick up as the days wear on, however; there should be more channel and bounce opportunities if price begins to swing again.
The daily chart doesn't look too good and this 2h chart doesn't seem to be any better. The bearish consolidation we have been in this week seems to confirm the daily MACD cross-down is in effect, however; the high amount of moving average convergence in this zone will likely limit the January / February down motion to something more gradual. Profiting on these small price swings may require leverage. Selling pressure may pick up as the days wear on, however; there should be more channel and bounce opportunities if price begins to swing again.