Price has formed a parallel channel and right at this moment, it has broken the lower boundary of the channel. My expectation it may turn out to be excess price (fake breakout) and price will continue to move up until 50 fib level bearish correction. From then on, we may expect strong selling of the current buying accumulation.
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.