US30 is still in this range. Looks like price has tried to break below but failed to do so. A level of support has been formed. I think price will retest that 4H level of resistance to create a wick on the higher TF, and then it will continue the bearish movement later today. I am looking for a buy opportunity leading up to market open. Will wait for a confirmation of entry on the 15M and 5M TF.
1.Price is currently ranging
2. Price created a high within this range
3.Price created a strong level of support and failed to break below
4.If a 15M candle starts to break and close above resistance, there is a probability that price can retest the 4H level of resistance and then begin to reject
5. If price fails to break through resistance (&200EMA), there is a possibility that it can break the minor level of support to retest the bottom of the range and potentially break through and retest the 4H level of support