The Red downtrend line is not far away but we may have trend changing Reversal Island in place.
en.wikipedia.org/wiki/Island_reversal
en.wikipedia.org/wiki/Island_reversal
Note
There is possibility of forming Head and Shoulders pattern with Reversal Island as a Head. Right arm is undeveloped yet but keep possibility.
Note
Neckline is violated. Target level 4th of 3rd $7600
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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.