I believe that odds are in favor of a reversal at this point.
We are at the bottom of a multiyear channel/bottom trend, with really low RSI on the daily and the weekly is same levels as previous reversal in the multi year channel/bottom trend.
Additionally we have resistance just below the channel which should be the stop loss.
With some patience, one year or so, we might see it back up in the middle of higher of the channel, otherwise you'd be stopped out, and should move on to the next play.
Happy trading, and use this as inspiration, always do your own DD.
We are at the bottom of a multiyear channel/bottom trend, with really low RSI on the daily and the weekly is same levels as previous reversal in the multi year channel/bottom trend.
Additionally we have resistance just below the channel which should be the stop loss.
With some patience, one year or so, we might see it back up in the middle of higher of the channel, otherwise you'd be stopped out, and should move on to the next play.
Happy trading, and use this as inspiration, always do your own DD.
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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.
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.