A bearish candle on the daily chart favors a further downwards move today. A price penetration below 137.50 is needed for a confirmation that the bears will come out and try to gain the upper hand over the bulls.
Once the price closed below 137.50, it might go down to test the the H4 lower trendline at 136 area. Meanwhile, previous the swing high at 138.40 should now turned to a minor resistance level.
Below is the hourly chart as of 10.40 am Malaysia.
Once the price closed below 137.50, it might go down to test the the H4 lower trendline at 136 area. Meanwhile, previous the swing high at 138.40 should now turned to a minor resistance level.
Below is the hourly chart as of 10.40 am Malaysia.
Update: 19 hours later, just before the market closed....
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