Bulls hold in at 2500 to finally trigger another recovery attempt above 2585 critical.
With 200EMA almost aligned with 2500/pattern we should expect a stronger level of support in this zone once breakout occurs.
The third down-step has been prevented on H4 and now forms what seems to be an inverse head-and-shoulders.
This suggests one more drop to pattern before momentum picks up, likely completed some time by 1/18.
Either way we should look to remain above daily piecing (yes still) to prevent long-term reversal.
www.tradingview.com/chart/gDBkksfy/
With 200EMA almost aligned with 2500/pattern we should expect a stronger level of support in this zone once breakout occurs.
The third down-step has been prevented on H4 and now forms what seems to be an inverse head-and-shoulders.
This suggests one more drop to pattern before momentum picks up, likely completed some time by 1/18.
Either way we should look to remain above daily piecing (yes still) to prevent long-term reversal.
www.tradingview.com/chart/gDBkksfy/
