After market rose to the top end of the wider bearchannel market set a lower high and is currently testing a slight upward sloping line for support, around 4.60.
Logically this should give way to continue the overall bearish pattern; If so, risk extends to 2.50, the low end of the bearchannel and a projected target. Wise to keep watching action around that 4.60 level.
The previous low was around 4.20 so have to watch that also for support. Selling is likely o get more aggressive below there. Resistance is seen at the midline of the Bollinger Bands around 5.50.
Logically this should give way to continue the overall bearish pattern; If so, risk extends to 2.50, the low end of the bearchannel and a projected target. Wise to keep watching action around that 4.60 level.
The previous low was around 4.20 so have to watch that also for support. Selling is likely o get more aggressive below there. Resistance is seen at the midline of the Bollinger Bands around 5.50.