trendline rejection???

The price is now has been rejected by the descending trendline on the daily chart; an indication that the major downtrend is still in play. It would be interesting to watch how the market reacts once the price approaches the 135.0 level today; which is a significant round number.

A penetration below 135.0 will further spurs more sellers to pull the price to test the previous low at 133.8x. Meanwhile, a bounce from 135.0 could be a sign that the current rally is not done yet.

Below are the daily and H4 charts as of 5 am Malaysia.

2nd H4 chart added with another ascending trendline added


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