We are under a short term consolidation for a while but the break out is soon to happen. I am making this very clean chart just to point out this trendlines and apex. Yet it is impossible to predict which direction it would break. *Personally, I believe there will be a "painful" false breakout with a very high volatility happened, generally it does every time the price reach a very critical zone. Thus, I point out the next R/S and lets you decide on your portfolio management to be prepared for both cases - the key point here is your money management and risk tolerance in case of it breaks to the downside.
I still think the breakdown is still highly possible due to currently macro-condition. Normally, the bottom of any economic cycles should ended up with a very "low-volume" and stillness -i.e. Dec 2018 - Mar 2019. However, I still see lots of activities happening in the current market's uncertainty.
It is worth to point out that the "volume" in the past month has been very high and that is very skeptical.
I still think the breakdown is still highly possible due to currently macro-condition. Normally, the bottom of any economic cycles should ended up with a very "low-volume" and stillness -i.e. Dec 2018 - Mar 2019. However, I still see lots of activities happening in the current market's uncertainty.
It is worth to point out that the "volume" in the past month has been very high and that is very skeptical.
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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.