Longterm trend on the daily chart is short. After a test of the 61.8 fib level, we can see price making lower lows, indicating a potential continuation down. Once the daily counter trendline is broken, we could see price drop to levels around the 27.2 fib extension, which also lines up with massive weekly/monthly support/resistance around 79-80
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.