Looking at our trend timeframe we see price continuing to respect our downtrend behavior, stochastic rsi showing momentum continuing in favor of bears with no signs of reversal. Looking for a weekly reversal at this level, will be watching smaller timeframes for a reversal.
Shifting over to our pattern timeframe we see price currently stuck in consolidation, stochastic rsi showing momentum in favor of bulls. A daily close above 297700 activates our trade, however if rejected at this level expect price to return once more to 275200. A daily close below 27500o indicates another extension in this bear market.
