The price has successfully broken above the weekly 50 EMA and is currently retesting this moving average. The nearest resistance levels are the daily 50 EMA and 50 SMA. It is possible that a descending channel is forming, and the price may attempt to rise towards the upper boundary of the channel.
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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.