1) Daily trend: downtrend established at the end of November, 2015; corrective rally since middle of December, 2015.
2) 8-hour chart: price has reached what appears to be the line in the sand for resistance, with oscillator divergence confirming a short setup. If price reaches new highs, it would be prudent to step aside; my current short bias would have to be re-evaluated.
3) 2-hour chart: oscillator divergence supporting the 8-hour chart analysis.
I missed the entry setup, and now I'm waiting for a retracement back to that level.