Price has recently formed a broadening wedge. It made a third touch along the upper trend line on Friday but closed below it without breaking through to test important resistance at 25824. This coming week I'm watching for a possible test of the 25824 level and to see what price does from there. Alternatively, price could remain within the channel and continue down to test the lower trend line. I've highlighted possible scenarios on the chart.
Note
Bearish divergence.
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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.