Breach of the medium term upward TL. Price might now look to ebb a bit further down and possibly look for support to form around the $5.10 range which provided previous support ,61.8% fib confluence in this area too. So could potentially see some climactic action around that region and from a trading perspective this could be a short term swing point.
From a longer term perspective, best case might be for it to get caught in a trading range, look to consolidate and form a strong base and then move up backed up by increasing volume.
IMO of course.
SYD Price at posting:
$5.18 Sentiment: None Disclosure: Not Held
