After analyzing the monthly chart I have moved to the weekly chart to continue my analysis. Here, I see price action continuing to make lower highs and lower lows as indicated by the series of black crosses. A downward trend is identified by a series of lower highs and lower low Fractals, I prefer to call these swing points as fractals has another meaning in technical analysis. A downward trend stays in motion until proven otherwise. To stop the downward trend price action must form a higher low, this has not yet occurred.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.