We have a nice cup shaped base on the monthly log chart with a long term positive reversal in the monthly RSI (dashed line) which is encouraging . Price has stalled at the horizontal level labeled 33. On the daily chart the current action looks to me like a consolidation triangle. If the US dollar continues to fall then likely we will see a break up out of the triangle. IFFF it does my intermediate target will be around 2300 based on the positive reversal on the daily log chart (vertical arrows).
As always: all "analysis" can be completely wrong. So process your way.
Have a good week.
As always: all "analysis" can be completely wrong. So process your way.
Have a good week.
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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.