The month so far has been quite and price has pulled us back below 144.00 - a key area of resistance. Price has previously rejected this area with shooting stars and even though we did breach this zone, it could potentially prove to be a false breakout depending on how this month closes out. Last month we saw some indecision with a . MAs are also downward facing with price rejecting our red MA.
We've seen a series of lower highs whilst attempting to breach 144.00 - a good indication of price reversal. Last month we also had a 3-pin formation followed be a . We can also see and strong candle last week whilst MAs are converging closer together for a possible crossover to the downside.
Again lower highs and lows with a formation at the beginning of this month. Price has broken our daily TL and retested it and rejected witha . MAs downward facing. Daily close .
Lower highs and lower lows with MAs downward facing. rejection off the 61.8% fib level which is also confluent with of 142.50 and daily TL.
SL now moved to BE.