Price has been consolidating between 3060-3140 since last week in an ascending triangle pattern. However, technically, we are in a downtrend and coming off an island reversal. Furthermore, bulls are unable to breach upper resistance to backfill the gap left from the reversal. Each time frame that goes by that this does not happen adds to the bearish case.
Expecting a final thrust to break the triangle and head to around 2850
Expecting a final thrust to break the triangle and head to around 2850