This symmetrical triangle is a very important one. It will most likely decide whether we break below the range (see 4h idea below) or stay within it. If it manages a northern breakout, we may see price test the 38.2% Fibonacci level, which is near the middle of the range. The RSI and MACD are pointing north but the Bollinger Bands are showing weakness. If it does manage its way north beyond $135, I am hopeful we will see action near the top of the range at $160. However, let us not forget we're still in a bear market and fundamentals are not looking great. Set stops accordingly and wait for confirmation on breakouts.
Nota
A lackluster breakout has led to the formation of a small bull flag. There was a spike in volume but will it be enough to defeat the larger triangle? I'm betting yes but still keeping a close stop and watching for a breach below the bottom rising trendline, which may lead to it falling out of the range (bottom horizontal trendline). This market is walking on egg shells. Penerbitan berkaitan
Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.