Hidden Resistance
We have retraced the decline since April 8th by over 50% and at the same time reached a hidden resistance which was the Summer low of 2022.
This allows the conclusion that the March-April double top may have formed the end of the attempt to turn around the downward trend existing since November 2021.
The present rise thus may be seen a an exhaustion already and the downward trend may be resumed.
This allows the conclusion that the March-April double top may have formed the end of the attempt to turn around the downward trend existing since November 2021.
The present rise thus may be seen a an exhaustion already and the downward trend may be resumed.
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.