With the downward momentum out of the way, price looks to start regaining momentum again. It may be limited to this week though, as the algos on the PPMs show a reversal again after a couple of days.
Weekly chart is not able to provide much information for this week as the PPMs 2 and 3 are not in any trend, hence there's nothing preventing the price from dropping through the 21 and 40 SMAs.
All in all, price may reverse momentum for early week trading only to stabilise or reverse back down again in mid to late week.
However, we will have to wait for the algos to update to refine our expectations.
Weekly chart is not able to provide much information for this week as the PPMs 2 and 3 are not in any trend, hence there's nothing preventing the price from dropping through the 21 and 40 SMAs.
All in all, price may reverse momentum for early week trading only to stabilise or reverse back down again in mid to late week.
However, we will have to wait for the algos to update to refine our expectations.