Support at long-term trendline (solid purple) rejected leading to a bearish breakout on short-term ascending triangle pattern.
Further supports assumed at dashed blue (failed) -> solid red -> 2400/2350; note that due to the high volatility these do not line up with intersection points stated on 3/03.
Keep in mind that a break (close) below the long-term low (solid red) will likely cause a very quick dip to 2400-2350 as this is the average hold for the current cycle. A break (close) below 2400-2350 could send us to 2200 or lower.
Further supports assumed at dashed blue (failed) -> solid red -> 2400/2350; note that due to the high volatility these do not line up with intersection points stated on 3/03.
Keep in mind that a break (close) below the long-term low (solid red) will likely cause a very quick dip to 2400-2350 as this is the average hold for the current cycle. A break (close) below 2400-2350 could send us to 2200 or lower.
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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.