Price continued to fall!!

Good Morning Dynamic Traders

Half way through the week and I hope your all having a good one!

Yesterday I asked would price continue to fall or will it use the S/R line to find strength. Yesterday price continued fall and broke through the support line. In the hour chart below I have marked out the Support line and you will notice that price tagged the line twice. When the RSI dropped below 50 you will see this was when price began its decent which broke through the support line.














As I am writing this update price looks like it is finding some strength! In the hour chart above I have marked out convergence from the MACD, which helps to explain price getting stronger.

However with the trend being down on the larger time frames, will they force price down further?

Look forward to tomorrow

Happy Trading

Richard Monnery