There's an Inverse Head and Shoulders
pattern forming on the daily and 4hr timeframes. Price is at a very critical inflection point, which happens to be the neck line of the inverse H&S
. We'll see how price reacts to this level. The Inverse H&S
is signalling that we may have a trend reversal and we're headed back up. However, we have no confirmation of trend reversal yet and could easily see price headed down more.
As always we'll wait patiently and see how price reacts to these levels.