As it can be inferred from the chart, the price is still ranging within the borders of a sideways moving range and is now testing the upper boundary of it. In general, a descending triangle is a SELL indicator, therefore our bias still remains bearish. For the moment, we will be waiting for the price to reject the upper boundary of the triangle and drop all the way down till the area of support identified on the chart
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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.