Ascending Triangle with Resistance at 420
The prices have been bouncing within the 360-420 range, there is accumulation at the 360 level and recently at the 380 level. The distribution level was recorded close to the ATH at the 480 level.
There is an increasing momentum and my estimates are that it will take a retest at the 20-50 ma ribbon. At this point it has already tried three waves to the upside, so the retest could be a corrective wave. This re-test will determine if the market attempts another round towards the ATH level or if this will shake the tree back to the 360.
There is an increasing momentum and my estimates are that it will take a retest at the 20-50 ma ribbon. At this point it has already tried three waves to the upside, so the retest could be a corrective wave. This re-test will determine if the market attempts another round towards the ATH level or if this will shake the tree back to the 360.
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