Trend of the market on the daily is a down trend.
Price had tested the major channel support level which coincides with the false breakout that happened previously.
Currently, the market is at a cluster of resistance within the channel which was previously support for price.
We're likely to see price reject or turn away from this current level of resistance or break it, retest the major resistance level and head to the downside.
Price had tested the major channel support level which coincides with the false breakout that happened previously.
Currently, the market is at a cluster of resistance within the channel which was previously support for price.
We're likely to see price reject or turn away from this current level of resistance or break it, retest the major resistance level and head to the downside.