As it can be inferred from the graph, the price is currently correcting the impulsive move that took place last week and approaching the 50% Fibonacci retracement level.
From there, we will monitor the price action and expect for the price to keep rising and reach the area of resistance plotted on the chart.
From there, we will monitor the price action and expect for the price to keep rising and reach the area of resistance plotted on the chart.
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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.