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During yesterday’s session there was a long-awaited breakthrough of support with high intensity. The US session pushed up the course to the designated support which then became resistance and apparently was not broken. The price has moved further downwards and thanks to this we have a chance for OverBalance (or otherwise known as a 1: 1 correction, even though these two terms mean something else). I marked in the image how it looks visually. The support seems quite strong so if the price does hit I will be looking for a place to enter. In case of withdrawal and breakout of the resistance (blue small bar) the formation may be negated and we will have to devise a new plan. For now, we have a persistent downward trend from a low time frame.

Daily R3 16330
Daily R2 16150
Daily R1 15970
Daily PP 15800
Daily S1 15620
Daily S2 15440
Daily S3 15260

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