US30 Sell off ?

20 thg 2, 2021

3 false breakouts that could not create a new high, higher lows on the 4hr time frame. Also looking like we have a head and shoulders formation, looking for completion of the right shoulder. Resistance line at the top of our channel has been there since June 2020. It is at the top again. Losing momentum.

News can always effect any analysis, in that case with the new stimulus Bill being passed, we also have zones marked up for the long entry. (Always good to be prepared for both)