The price made a bearish move in the longer timeframe as well as on the shorter. On the one hour timeframe, we can see that the price still is moving in the bearish direction, and the RSI is probably going to get oversold. Looking for a right support/resistance area, and for RSI to get oversold. If those two things happen, we are expecting a bullish bounce.
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Feel free to grab a copy of our Free Weekly Market Outlook here:
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