I am still bearish until price and other factors indicate otherwise and I think we can make it to my target. price has bounced of that support but only as far as the 38 fib retrace and started breaking down again. if that support breaks then there is a big potential on the move all the way to the trend line highlighted in that diagonal rectangle. there is also the possibility of price trading sideways before moving down again. If price indicates otherwise or I see signs of a bullish move I will update
Komen
marcus123
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I'd agree; and channel resistance coinciding roughly with the 50-61.8 retrace area on the H4; just have to wait...
adrian_24K
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thanks for the comment I don't use the macd crossover but its always good to know you came to the same conclusion it was a good trade price has looks like its moving upwards but I think unless that channel breaks up we are still bearish
marcus123
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; weekly macd signalline crossed and looking bearish; still in on this one...