Price was in a strong downtrend, however an extended bullish divergence, breakout from descending trendline, printing of hammer candle and a higher high all hint at the return of bulls for the price action. If freshly printed higher high is broken with good volume then we can expect a good bullish reversal as per Dow theory. Targets are mentioned on the chart.
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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.