Short term short
We can see that price retested but failed to break our strong resistance zone ( red box ) price then bounced and made a bearish run and is now on its way down to our support zone ( green box )
We can also see that around our support zone is that trendline ( TL ) that has been used many times before, it is possible that price could use this as support again also as it falls around our support zone, this makes it a strong setup for a bounce if it reaches this area.
This is only analysis, and only use it if it lines up with your analysis.
We can also see that around our support zone is that trendline ( TL ) that has been used many times before, it is possible that price could use this as support again also as it falls around our support zone, this makes it a strong setup for a bounce if it reaches this area.
This is only analysis, and only use it if it lines up with your analysis.
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