Price went down for a small retracement on hourly timeframe, however the double bottom formation coupled with bullish divergence and breaking of descending trendline hints that bulls are assuming control of the price action. This sentiment would be validated with the break of previous lower high, according to Dow theory. Targets are mentioned on the chart.
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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.