4H CHART EXPLANATION:
In the 4H chart, we observe that price did a Pullback to the broken Descending Trendline, and looks like it is trying to bounce. It can start a little corrective impulse towards the Confluence Zone between the Descending Trendline and the Resistance Zone. However, do not forget that this is just a retracement of the price, the main trend is bearish at this moment as explained on the Daily and Weekly charts below.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly:
In the 4H chart, we observe that price did a Pullback to the broken Descending Trendline, and looks like it is trying to bounce. It can start a little corrective impulse towards the Confluence Zone between the Descending Trendline and the Resistance Zone. However, do not forget that this is just a retracement of the price, the main trend is bearish at this moment as explained on the Daily and Weekly charts below.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly:
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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.