Price close to approaching strong monthly support level. Price could rebound from there or break though bringing more downside. Price also near 200 EMA which could act as a potential support area as well. Will watch for a breakout of downtrend line on the 4H & wait for a bullish engulfing to consider taking this long. Will be watching price action for now! : )
Note
DAILY chart, if breakout to the downside Note
Potential head on shoulders
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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.