Buyers running out of steam
Price has rejected this indicated area three time in the past month with a bearish pin bar forming yesterday. This is indicating that buyers do not have the commitment to push price above $1,260. Volume is also decreasing which can indicate the buyers are losing steam, therefore I have a bearish outlook for the short term.
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Related publications
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.