4H CHART EXPLANATION:
- Price broke the Ascending Channel.
- However, it was not a clear breakout, it made an horizontal move for a few weeks.
- Right now it is moving towards the Support Zone at 141.00.
- If this zone is broken, there is potential to reach the Support Zone at 136.00
- Will look for a lower timeframe bearish setup in case that scenario happens.
DAILY CHART ANALYSIS:
- Price broke the Ascending Channel.
- However, it was not a clear breakout, it made an horizontal move for a few weeks.
- Right now it is moving towards the Support Zone at 141.00.
- If this zone is broken, there is potential to reach the Support Zone at 136.00
- Will look for a lower timeframe bearish setup in case that scenario happens.
DAILY CHART ANALYSIS: