Here we see a classic buy set up. It has been oversold on the larger time frames. We see that it is also rallying up by breaking my maroon trendline. On top of that we are very bullish considering it created a new higher low. All of this confirms to me we are set to move up and test the resistance line above.
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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.