The trend is down, despite the fact that we have experienced a upwards retracement and are having difficulty dropping impulsively lower. During the last 3 days, we have observed lower highs and lower lows.
Also, our moving averages indicator EMA(13), EMA(21) and EMA(34) are in a negative configuration, with the price below EMA(21) and EMA(34).
What we need to experience is a catalyst to produce an impulsive wave down, which will generate confirmation on the daily charts. The hourly charts remain in negative configuration.
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