As it can be inferred from the graphical illustration, the price printed nice bullish candles last week and kept pushing to the upside. As per usual, after an impulsive move, a correctional move is always needed. We can see that the price is forming some sort of a reversal bottom to complete the correctional move. We are awaiting more confirmations before looking forward to going short and aiming for the zone of support that lines up with 0.618 Fibonacci retracement level.
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.
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.