Watch for a test of the trend line drawn on the chart. As price recently made a new high it made it on a divergence against the RSI. This is a bearish signal that should continue to drop the price this week. Also, trend momentum has been losing strength based on a falling ADX.
If momentum for the bears builds strength as the trend line is tested, be careful of a re-test of the previous low, or even a new low could be imminent (arrows on chart).
Questions let me know.
If momentum for the bears builds strength as the trend line is tested, be careful of a re-test of the previous low, or even a new low could be imminent (arrows on chart).
Questions let me know.