- Price broke outer trendline
- We saw a nice retracement to the fibzone - between 50%-61,8%
- Price did not quite bounce off the outer trendline, however this could be due to the daily demand zone as price immediately moved to the upside after slightly testing the zone.
- Will be looking to take profit at the 100% level as price is stuck within the main bearish channel
- Stochastics oversold on the daily timeframe and has already exited the oversold area on the H4 timeframe
- H4 MACD divergence confluence
USDZAR