CHR has broke above the corrective downtrend on the daily and weekly timeframe with a strong impulse to the upside, the impulse has been followed by a correction on the weekly timeframe to test the 0.50 fib and form a new higher low from a weekly perspective. Dropping down to the 4HR timeframe we can see since the corrective move the market has found support and is now accumulating in a sideways movement, a break above this resistance will send the price.
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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.