Expecting further drop if current point E marks the local top. Attempted to break up from triangle but may be fake out. Local wedge shown on 1D with bearish div on RSI.
Signs to look for:
Signs to look for:
- Breakdown of local wedge.
- Price closing back down into the triangle on a daily/weekly timeframe.
- Price closing under and retest/rejection of 92.643.
- Taking out 91.5 marks continuation of down trend (would make local lower low).
Note
May see relief in this area before resumption: Note
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Related publications
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.