Watching Daily Resistance

After breaking through the key daily support level that had been holding price for the past few months, price has made a swift move lower.

As the daily chart shows, price is now looking to form a new trend lower.

If we can see the old breakout support level hold as a new price flip resistance, we could see a new lower high form and the start of a strong trend lower.

This new price flip resistance looks a key level in the coming sessions.