As I mentioned on my last post, higher TF analysis suggests resistance at the $1750-$1800 level is strong, and this rising wedge is more evidence that price may be ready to take a dip. Should be an easy one for you swing traders out there. If I were trading this, I would wait for price to break below the bottom of the wedge though before pulling the trigger (assuming I hadn't already sold at $1750).
I do still firmly believe that if/when price breaks above that $1800 resistance, the bulls will be off to the races.
Stay tuned.
I do still firmly believe that if/when price breaks above that $1800 resistance, the bulls will be off to the races.
Stay tuned.
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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.