looking at sub 500 levels just can't seem to find the bottom
Reading many timeframes and patterns, it's a simple concept along with good or bad fundamentals, and of course, the catalyst is to sell the news or buy the speculation. In this case, reading the chart, we see oscillators that are turning to the downside, we don't see confirmation of the bottom, we see moving averages about to turn bearish with a death cross, and we can see the buying pressure versus the room to continue selling on the stochastic. RSI, we also see that the volume dried up toward the end of the year; we see fib retracement continue to bounce up and down, creating an H&S pattern on the second try before its demise from 7 pivots at resistance in the 620 regions. It seems like a smaller area of distribution before the next leg, but I do see a break of 500. Short-term bears.
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