On the weekly, this is a slight descending wedge; on the daily, it is more slanted of a wedge; these are both actually good signs that we probably through the worst of the downtrend
It is close to the bounce or fail area though; so i personally expect this to bounce of the blue line (weekly charts support); if it goes below that, then the bottom red line should cause a bounce (daily charts support);
If both fail (and its not a bear trap by whales) then we can see mid 6's
It is close to the bounce or fail area though; so i personally expect this to bounce of the blue line (weekly charts support); if it goes below that, then the bottom red line should cause a bounce (daily charts support);
If both fail (and its not a bear trap by whales) then we can see mid 6's