ETH Cup & Handle Formation
Consolidation within handle, if able to break the cup at 1650 price target is 1800. Macro H&S pattern within downtrending channel. ETH is between 50 and 100ma on the 1D timeframe. Geopolitical uncertainty is moderate with Russia/Ukraine and China/Taiwan. Global economic uncertainty moderate however likely priced in, 9/8 ECU rate hike confirmed with hawkish tone. Earnings stability and Sept PCE/CPI are key metrics to follow.
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