The price is forming a descending triangle pattern. The upper boundary of the triangle aligns with the resistance of the daily 50 MAs and the Point of Control (POC). The price may test this resistance in the near future. The RSI indicates a strong level of oversold conditions on the weekly timeframe.
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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.