See Signposts on chart for key price action details. We see resistance hold, which represented the upper boundary range. However, it produced a weaker selloff. After a rather bullish spike higher at the end of the selloff, price failed to push to new lows. It drifted lower, which indicates that it's likely there's a lack of selling pressure. Plotted path is currently the anticipated price action movement.
Note
Crazy. Hit my first level and then tanked.
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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.