Target 1 is 5800, calculated from taking the height of the cup and handle structure divided by 2, added to the top of the handle inflection point.
Note
Could see this transform into a reverse H & S, keep in mind this is on a 4hr time frame, this doesn't indicate long term price trend movement. Looking to buy in around 5400, around 14% profit 2x lev.Cup and handle structure is invalidated if it fails to break 5670. Then we can look towards the reverse H & S or a simple failure and completion of the larger long term rising wedge
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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.