The price is dropping again and is now close to the previous low of $70.08.
At this point, the formation of a double bottom with a recovery is possible.
In the case of a breakdown, however, a decline to the long-term support of $65 (blue line) or even to the monthly SMA200 ($60) is likely."
At this point, the formation of a double bottom with a recovery is possible.
In the case of a breakdown, however, a decline to the long-term support of $65 (blue line) or even to the monthly SMA200 ($60) is likely."
Trade active
I would say that we can start building the position. The almost complete monthly candle is extremely bullish, but watch out for the monthly SMA10 (gray line) which has been acting as resistance for many months!"
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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.