I believe it to retest the daily trend line. It has been moving up for the past couple of weeks. We have seen buying pressure when it reaches the current zone of support we are in. It has been oversold and is due for a correction. On the larger time frame it is looking very bullish.
Trade closed: stop reached
The news broke out over U.S policies creating a lack of momentum upwards towards our goal. Stop loss hit. Even though I am bullish for now I will need to reevaluate what price tells me within the next few days to see if my position on a possible bullish run will happen or if this lack of momentum could mean a sell off.
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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.