This market has been in a downtrend and will continue to follow structure. It bounced off of my trendline and rejected major resistance. This is very bearish on top of it being overbought. There were bearish engulfing candles that showed signs of strength for the bears. There were large wicks forming on the smaller time frame as well. It is also showing it hit an important point on the FIBONACCI which shows a perfect touch of the .618. All of these signs show a downtrend and we will enter based on these confluences.
