Could be forming an inverses head and shoulders. Per technical analysis and proper positioning we don’t want to speculate long and just hop in a postion. You can of course try this with proper risk managmebt upon the right shoulder being formed as it looks to be, Howver from a risk to reward level we should wait for some candle closes. Preferably a daily candle body flat or mulple closes above 127$. This could target us up towards 160s for the targeted move. If this plays out would be an excellent position with proper stoploss upon entry.
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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.