For those who not took the breakout last week this maybe could be a good opportunity to hop in a trend continuation trade. If we see the movement of the price the support that now became resistance is just in the .618 retracement. It could be a good move to enter short in that area looking as first target the last low, and a posible down move to the 1.272 extension that also have a strong support (2006-2009).
Also notice the divergence in RSI so the price should now push to the last S/R.
Give me your thoughts :)
Also notice the divergence in RSI so the price should now push to the last S/R.
Give me your thoughts :)