Here is why;
Daily
4 hour
Daily
- Price broke below the region of 39100. There have been two retests. This is as of Tuesday and Wednesday
- Wednesday's candlestick engulfed Tuesday's candlestick to the downside. The next noticeable zone 38,500 but I expect price to go even lower.
4 hour
- Price has formed a massive 3 pin pattern formation which has broken below 38,865 (this is a minor region where orders were collected). I expect a retest of this region before price continues going lower.
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