The instrument is in a downtrend, the lows are updated, the volumes are decreasing, these grounds indicate a loss of buyer's interest in pushing the price up, while the chart shows the seller's global downward dynamic pressure. Against this background, a short breakout level has been formed with several touches, after which I expect the triggering of stop orders that will give an impulse for a breakdown.
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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.