Thoughts on China Merchants Bank Co Ltd

On the H4, with RSI moving in a descending trendline, we have a bearish bias that price will drop from sell entry at 50.85 where the overlap resistance is to the take profit at 41.30 where the swing low support is. Alternatively, price could break entry structure and head to stop loss at 55.35 where the 100% fibonacci projection and 50% fibonaci retracement are.

Entry:50.85

Take profit:41.30