In the analysis above we can see price has been forming a Ascending wedge formation towards a daily down trending resistance trendline. We can also see if you look at the daily or 1 hour chart that we have been in a bearish trend for some time. If you look at the 1 hour chart we can spot possible double top formation, if price breaks below 151.838 and gives a clear retest, we'll see a possible bearish trend until 150.495 .
Note
We can see price is still correcting above the support in the form of a bull flag. This could mean that price might break above the daily resistance and change the whole trend.
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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.