$REP, Uh-Oh…
Weekly
Looking at our trend timeframe we see price continuing to respect our downtrend behavior, stochastic rsi showing momentum continuing in favor of bears with no signs of reversal. Looking for a weekly reversal at this level, will be watching smaller timeframes for a reversal.
Daily
Shifting over to our pattern timeframe we see price currently stuck in consolidation, stochastic rsi showing momentum in favor of bulls. A daily close above 297700 activates our trade, however if rejected at this level expect price to return once more to 275200. A daily close below 27500o indicates another extension in this bear market.
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