I remain with a bearish bias, but there's not much reason to open a short right now at current levels. I continue to hold shorts from higher, especially as I continue to receive funding payments. I'm not really expecting any significant bounce to come personally.
You can see in this image below that we are sitting on a few different areas of confluence that would keep us from slicing through:
1D 200 EMA
1D 200 MA
1W 20 MA
Uptrend Diagonal
Volume Point of Control
and probably more not highlighted here
But if we grind down under these levels then there would be reason to add to or open new shorts. If we push back upward then you could look for longs into the 9.5 range. Any significant trading over 9.5 and I would expect I'm simply wrong.
You can see in this image below that we are sitting on a few different areas of confluence that would keep us from slicing through:
1D 200 EMA
1D 200 MA
1W 20 MA
Uptrend Diagonal
Volume Point of Control
and probably more not highlighted here
But if we grind down under these levels then there would be reason to add to or open new shorts. If we push back upward then you could look for longs into the 9.5 range. Any significant trading over 9.5 and I would expect I'm simply wrong.