It is trading within a descending channel on the daily and four hour timeframe.
Forming a bearish AB=CD pattern with the corrective percentages shown on the above chart.
Below on the RSI indicator, we find that the last three bottoms are converging, and the upper boundary of the descending channel has been broken.
The expected targets of the pattern at the retracement of 50 and 61 Fibonacci.
Forming a bearish AB=CD pattern with the corrective percentages shown on the above chart.
Below on the RSI indicator, we find that the last three bottoms are converging, and the upper boundary of the descending channel has been broken.
The expected targets of the pattern at the retracement of 50 and 61 Fibonacci.
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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.