This could be the end of the downtrend, or just a retrace up to the 23.6.
In the short-term, there is a long opportunity up to $11,200 based on an inverse H&S on the 15min.
Uncertain about long-term sentiment. Could see it bounce off the 23.6 back into a downtrend.
In the short-term, there is a long opportunity up to $11,200 based on an inverse H&S on the 15min.
Uncertain about long-term sentiment. Could see it bounce off the 23.6 back into a downtrend.
Note
Forgot to mention that we have bullish divergence on the momentum oscillators against price. This can also be seen on the hourly.Trade closed: target reached
Target of $11,200 reached.Upside potential still there. Need to continuously monitor the 23.6 fib.
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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.