Sign of Bearish trend continuation
-Candlesticks are moving below MA200
-Magnitude of Downtrend Line B is similar to downtrend Line A
-Downtrend Line B: 1.414 fib extension of Downtrend Line A
-Strength of Retracement line R2 seems weaker than of Retracement line R1, where is the momentum?
-Candlesticks having issue getting above MA 200 and 0.5 fib retracement of Line B .
Not much support between 130X and 155X to support any downtrend - Trading volume dated back to the last 600 bars
A closer look at retracement R2
Seems like retracement R2 is losing strength. Breaching 137X will result in "New Lower Low".
-Candlesticks are moving below MA200
-Magnitude of Downtrend Line B is similar to downtrend Line A
-Downtrend Line B: 1.414 fib extension of Downtrend Line A
-Strength of Retracement line R2 seems weaker than of Retracement line R1, where is the momentum?
-Candlesticks having issue getting above MA 200 and 0.5 fib retracement of Line B .
Not much support between 130X and 155X to support any downtrend - Trading volume dated back to the last 600 bars
A closer look at retracement R2