brown/red line(monthly resistance)
Black line(new resistance weekly)
Firstly we can see that monthly resistance was hit and a down trend was formed, from there the new weekly resistance was constantly hit but unable to be broken. We now see double tops forming which indicates a down trend. This can be confirmed by the 200 EMA which is bearish. Will wait for entry when markets open.
Black line(new resistance weekly)
Firstly we can see that monthly resistance was hit and a down trend was formed, from there the new weekly resistance was constantly hit but unable to be broken. We now see double tops forming which indicates a down trend. This can be confirmed by the 200 EMA which is bearish. Will wait for entry when markets open.