African Rainbow price is constricted between resistance and rising support forming an ascending triangle. In previous instances ARM showed this price action, price broke to the downside. There is a high probability of the same.
Price closing above the resistance line on a weekly basis would be a stop loss for a short position then closely watch for a false breakout to get a re-entry.
Price closing above the resistance line on a weekly basis would be a stop loss for a short position then closely watch for a false breakout to get a re-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.