Looking at our trend timeframe we see price continuing to respect our downtrend. Temporary support found, price now stuck in consolidation. Stochastic RSI showing momentum now shifting in favor of bulls, will watch smaller timeframe for entry,
Shifting over to our pattern timeframe we see price has been rejected by our consolidation resistance at 9000. Today’s candle opened at 8569 with a high of 8769 and currently looking to make a new low. Stochastic RSI showing momentum in favor of bears, looking for a daily close above 9000 to activate trade or a bounce off 7000.
