Being rejected by the 21 weekly EMA and the descending trendline that it failed to breakout from. Failed inverted Head and Shoulders. Below the 4H 200ema. Below previous range support and penetrating longterm support. The 1 trend Fib extension is confluent with the 3.618 indicating a possible target.
Breakdown of the RSI and CCI trendlines. RSI has plenty of room to spare down and CCI seems that it will be stuck in oversold.
Price action is mirroring August to November 9th's price action but upside down. I flipped the price action where price found support at the 21 weekly EMA, on the 30th of September, pasted it to where currently price was rejected by the 21 weekly EMA.
Drop in the market might be delayed with a bounce of current support, but overall price action is bearish and has failed to flip bullish.
Breakdown of the RSI and CCI trendlines. RSI has plenty of room to spare down and CCI seems that it will be stuck in oversold.
Price action is mirroring August to November 9th's price action but upside down. I flipped the price action where price found support at the 21 weekly EMA, on the 30th of September, pasted it to where currently price was rejected by the 21 weekly EMA.
Drop in the market might be delayed with a bounce of current support, but overall price action is bearish and has failed to flip bullish.
