$REP, Didn’t Believe Me…
Weekly
Looking at our trend timeframe we see price continuing to respect our downtrend with no signs of reversal. Support has been found 180000, double bottom expected at 180000, will watch smaller timeframe for entry.
Daily
Shifting over to our pattern timeframe we see price has formed a double bottom at 180000, Stochastic RSI showing momentum is in favor of bears. A daily close above 212000 activates our trade, however if we do not see a daily close above hold at 212000 expect a sell off towards 170000.
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