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Chart wise, it is fast approaching the edge of the wedge and it can either rebound from the lower channel or breaks down and heads further south. I think a stronger pull back is necessary for now.
Chart wise, it is fast approaching the edge of the wedge and it can either rebound from the lower channel or breaks down and heads further south. I think a stronger pull back is necessary for now.
Note
Don't underestimate the channel. You can still make thousands of dollars if you know how to trade this pattern. Let's see what happens next.Note
bloomberg.com/news/articles/2020-05-10/india-reopens-economy-but-millions-of-workers-stay-home?srnd=premium-asiaif you extend the wedge pattern, you can see the price has already turn bearish on 4 May 1145 hours.
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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.