Simple analysis, the bullflag in green starts with April 2 impulse. We're in consolidation period with apex due mid/end octobre. However, since early may, the price has respected a high liquidity channel comprised between the two pink lines - it entered the channel but never spent much time in it. The top line of this channel crosses our flag earlier. Respecting that line increases the chances a breakout happens around sept 10. Should that line not hold, I will look for the bottom line of the liquidity channel as having a similar - if not increased - effect on price.
RSI bouncing strongly from oversold depth gives credence to some short term upside supporting the first setup.
RSI bouncing strongly from oversold depth gives credence to some short term upside supporting the first setup.
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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.