The price is currently at the lower boundary of an ascending channel. The weekly 50 EMA is the nearest strong resistance level. A break below the lower boundary of the channel would be a strong bearish signal. A break above the 50 EMA would push the price up towards the channel's midline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.