Chart is self explanatory. The large pattern (rising wedge) is a bearish structure. Price finished a 5 leg upmove and should now correct in a ABC fashion. Price could not confirm the break out at the high which is normaly a reversal sign.
I would expect as targets two meaningful trendlines broken during the ascending move.
I would expect as targets two meaningful trendlines broken during the ascending move.
Note
A Longer term view of the final target should the rising wedge be NOT broken to the upside: trendline starting in 2012.
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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.