A break of 233 would violate the trend-line from the 3/10 304 high. Furthermore, a break of 240ish would violate the trend-line from the 11/13/14 475 high. Both are relatively close to each other and a break of the second could push price quickly to 290 to test the long term bearish trend-line from the ATH. This would signal a reversal of the long term trend and could result in a quick parabolic rise.
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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.