Price has been rejected from the lows, but if it shows weakness trying to break through the current price congestion, this is a good Short opportunity.
After strong rejection from the lows last week, and weaker Bearish correction, my bet is that Price is going to test the Daily highs again.
It is a struggling Bearish trend on Weekly, but a Bearish trend nevertheless. Since Bulls are failing to show any signs of strength as we are trading at the low for the year, Bears are favorite to continue lower.
Price trading in a rather slow complex Bullish correction after breaking Weekly support. It can reach as high as the yellow resistance level without changing Bearish scenario.
Complex Bearish correction against Bullish trend on Weekly and Daily. Expecting rejection around these levels and retesting the high. We are approaching an important psychological price of Brexit breakout last year. Overall Bullish momentum on Weekly is still quite slow, but persistent.