As we predicted in our previous analysis, the price made a bullish bounce off the support line. It has now stopped at a strong resistance area. The support and resistance lines are forming an ascending triangle formation. As it is a corrective structure, we are expecting an impulsive move at the breakout. Before the breakout happens we are expecting another short bounce from the resistance towards the support line.
We wish you good luck with your trading!
We wish you good luck with your trading!
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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.