Tentative support at 2550 held in to prevent further correction to 2500; 2600 still acting as critical resistance.
Two new lines added (solid green) to indicate a long-term symmetrical triangular pattern. These extend from the start of the cycle around 1/05-1/08.
Based on entry direction (dip), along with the fact that we didn't fill out a bottom-recovery, it seems we could be in for a bearish breakout if price fails to hold at lower green line. Note that this is not the extreme but close to it, therefore there may be some wiggle room at the low to say 2400.
Two new lines added (solid green) to indicate a long-term symmetrical triangular pattern. These extend from the start of the cycle around 1/05-1/08.
Based on entry direction (dip), along with the fact that we didn't fill out a bottom-recovery, it seems we could be in for a bearish breakout if price fails to hold at lower green line. Note that this is not the extreme but close to it, therefore there may be some wiggle room at the low to say 2400.
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.
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.