Price has been printing highs for some time now
But as you can see, the price is approaching a multi-swing high resistance which also aligns with the 127.2% Fibonacci retracement
I can also spot that the stochastic indicator is also in the overbought territory
I believe a rejection from this level could lead the price to fall towards the support level.
But as you can see, the price is approaching a multi-swing high resistance which also aligns with the 127.2% Fibonacci retracement
I can also spot that the stochastic indicator is also in the overbought territory
I believe a rejection from this level could lead the price to fall towards the support 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.