A lot of retail trading and a lot of wicks on each candle leading into a rising wedge. Those wicks show indecision and not a strong trend. Looking to the larger time frame, we've either formed a double bottom or prices is weakly rising from resistance to form said wedge. Looks more bearish than bullish.
A strong surge in price on strong volume and especially through the to 4240 price level will invalidate this scenario.
Price might revisit 3600 briefly before plummeting to 3040
A strong surge in price on strong volume and especially through the to 4240 price level will invalidate this scenario.
Price might revisit 3600 briefly before plummeting to 3040
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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.