On the monthly timeframe
we are bouncing off of a level of support. ON the weekly timeframe
we closed last week failing to engulf the previous candle. Most recently the bearish engulfing
candle tells me that we are still looking to ride with the sellers! On the daily timeframe
we are retesting a major level of resistance finding some rejection! On the H4 timeframe the moving averages have crossed to form a LH but this doesn’t mean we may not pull back to retest the supply zone
before heading lower!