Giant Falling wedge on the daily chart. It will probably go to the .618 which finds confluence in the bottom of the wedge.
Expect a breakout after.
Expect a breakout after.
Note
breakout happened sooner than anticipatedNote
Looks like another similar and smaller formation.Daily Chart
Note
Daily looks like its turning into a head and shouldersNote
dow on the weekly. Looks like its ready to turn around for a correction. 38,300 should be the ceiling at the 1.618 extension. If the price rolls overs, targets are
yellow : 50 sma and the .236 fib
red : 100 sma and the .5 fib
Note
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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.