Currently, I am in favour of the bears and here are my reasons.
The daily parabola trend has confirmed breakdown.
We have a breakdown retest here on the 4 hour and daily, with broadening wedge downtrend resistance.
Additionally, there Is a hidden bear div on the 4 hour. With only a 50% bounce retrace.
In the favour of the bulls, yesterdays daily candle was really strong and showed us a bullish engulfing.
The daily parabola trend has confirmed breakdown.
We have a breakdown retest here on the 4 hour and daily, with broadening wedge downtrend resistance.
Additionally, there Is a hidden bear div on the 4 hour. With only a 50% bounce retrace.
In the favour of the bulls, yesterdays daily candle was really strong and showed us a bullish engulfing.
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Disclaimer
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.