On the daily timeframe;
I see the flag pattern,
which, by forming a triangle, the price broke its lower side
and after hitting the Fibonacci level 0.618 (2606), it had a pullback
which in my opinion is a complete pullback and I expect the downtrend to continue
On the other hand:
Although the price is on dynamic support, and MA20 on the weekly timeframe,
The price is in the range area, below the very strong resistance area
a zone that in the past weeks, was very strong as support
and for a long time the price was limited in it
Therefore, I do not think the price can easily move above this area (2625-2634)
Target 1: 2601
Target 2: 2591.5
Target 3: 2576
*Be profitable
Thank you for expressing your opinion by liking and commenting
I see the flag pattern,
which, by forming a triangle, the price broke its lower side
and after hitting the Fibonacci level 0.618 (2606), it had a pullback
which in my opinion is a complete pullback and I expect the downtrend to continue
On the other hand:
Although the price is on dynamic support, and MA20 on the weekly timeframe,
The price is in the range area, below the very strong resistance area
a zone that in the past weeks, was very strong as support
and for a long time the price was limited in it
Therefore, I do not think the price can easily move above this area (2625-2634)
Target 1: 2601
Target 2: 2591.5
Target 3: 2576
*Be profitable
Thank you for expressing your opinion by liking and commenting
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.
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.