wandering aimlessly.....

The price is now consolidating within the two lower trendlines on the H4 chart. The bulls are trying to push the price upwards but it was rejected by the fib 61.8% level of the previous significant swing. The beast will keep on wandering aimlessly within the two trendlines and the next direction could only be ascertained when the price breaks out of either trendline.

It is advisable to stay out and wait before jumping into a trade. UK CPI data release which is coming out within a few minutes might provide more clues on the beast direction.

Below is the H4 chart as of 5 pm Malaysia.


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