On the daily timeframe (TF) following the Wyckoff logic, there was a change of character that formed a Trading Range (TR) with the Selling Climax (SC) and Automatic Rally (AR). This is at the bottom of a larger TR on the weekly TF (See post below). After a Secondary Test (ST) of the lows, the price is testing the top of the TR again. This is also the 2019 Yearly Pivot Point and 200Day MA. We are now in Phase B and expect a contraction in volume and a test of the lows in Phase B before we can look for Phase C and a move out of the range. Negative divergence on the TDI (RSI) also indicates a possible move down.
