Bull case:
3 weeks weakness
6 days lower low
Back testing breakout line
Can rebound as Fib 61.8 level of last impulse leg gets tested.
Bearish case:
Weekly StochRSI rolling over
Weekly McOsc rolling over
Weekly uptrend line broken
Can continue bearish impulse move.
This week's economic data may provide clarity.
3 weeks weakness
6 days lower low
Back testing breakout line
Can rebound as Fib 61.8 level of last impulse leg gets tested.
Bearish case:
Weekly StochRSI rolling over
Weekly McOsc rolling over
Weekly uptrend line broken
Can continue bearish impulse move.
This week's economic data may provide clarity.
