Taking a look at the 4h chart, price-action remains confined in a wedge formation. RSI is suggesting we might get a bullish breakout as this is now the third signal of a break above 50 in this current wedge.
The 50% Fib Retracement level is also something important to note as the most recent large impulse was an impulse to the upside. See chart below.
I do believe that we might push higher but of course, something significant needs to happen first for price-action to break out of this wedge.
The 50% Fib Retracement level is also something important to note as the most recent large impulse was an impulse to the upside. See chart below.
I do believe that we might push higher but of course, something significant needs to happen first for price-action to break out of this wedge.
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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.