There is a downward descending channel with a potential double bottom forming inside if we can get a breakout of the channel and of the resistance we might have some bullish activity hopefully to the 50 EMA; however, the current sentiment on the chart is bearish and if we have bearish break out bears are in control. Please see chart for more clarity.
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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.