The price has formed a descending channel. The weekly 200 SMA and 50 EMA serve as strong support levels, while the 100 EMA acts as the nearest resistance. If the price fails to break above the 100 EMA, it is likely to continue its downward movement within the channel.
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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.