We are currently seeing a weak oversold bounce from the bulls on declining volume.
The bulls did not make it to 4 hour EMA resistance before topping out.
Watching for a 4 hour higher low to form and give us a tightening range into tomorrow.
Bears have complete control as long as hourly and 4 hour EMAs remain resistance.
Bears are using 4 hour lower highs for entries so the bulls have to put pressure to try and shift momentum by changing the 4 hour trend.
Bulls are in no rush for positions without PROOF they have some kind of volume, or momentum.
The bulls did not make it to 4 hour EMA resistance before topping out.
Watching for a 4 hour higher low to form and give us a tightening range into tomorrow.
Bears have complete control as long as hourly and 4 hour EMAs remain resistance.
Bears are using 4 hour lower highs for entries so the bulls have to put pressure to try and shift momentum by changing the 4 hour trend.
Bulls are in no rush for positions without PROOF they have some kind of volume, or momentum.
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