On the downside, triangle support at 291ish, while 260 is a bigger support being intersection of price line and fib level.
However, 4hr RSI is quite low, so don't initiate fresh short. My take: If you have long position: Hold, If you have short position: hold :)
Longer term view for investors: We are still due for a 5th Elliot wave. Also, weekly RSI which was too high is now coming to a more comfortable level and 1-2 weeks of upmove to reach 550USD is still pending.
However, 4hr RSI is quite low, so don't initiate fresh short. My take: If you have long position: Hold, If you have short position: hold :)
Longer term view for investors: We are still due for a 5th Elliot wave. Also, weekly RSI which was too high is now coming to a more comfortable level and 1-2 weeks of upmove to reach 550USD is still pending.