The price has formed a descending channel. The upper boundary of the channel and the weekly 50 MAs are the nearest resistance levels. The lower boundary of the channel and the weekly 100 MAs serve as strong support levels. A breakout above the upper channel boundary and the 50 EMA would potentially push the price towards the Point of Control (POC) level
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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.