It appears that the price is falling towards the rising trendline support, a level it has consistently rebounded from in previous instances, further bolstered by the alignment with the 78.6% Fibonacci projection and the 200-day moving average. Anticipating a potential bounce from this critical level, a reversal towards the resistance level, which is a pullback resistance and also lines up with the 78.6% Fibonacci retracement.
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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.