As part of the rally and news reaction, the price is testing strong resistance from D1-W1.
A false breakout is forming in the form of a bullish wedge, with the price returning back below the level. A reversal pattern is emerging on the chart: H&S, bullish wedge. A break of 199.5 could reverse the movement.
A bullish wedge is a reversal pattern. The market is showing an upward movement, which is hampered by limit orders formed by bears. The boundaries are narrowing, followed by a breakdown of support, which triggers a downward impulse.
A false breakout is forming in the form of a bullish wedge, with the price returning back below the level. A reversal pattern is emerging on the chart: H&S, bullish wedge. A break of 199.5 could reverse the movement.
A bullish wedge is a reversal pattern. The market is showing an upward movement, which is hampered by limit orders formed by bears. The boundaries are narrowing, followed by a breakdown of support, which triggers a downward impulse.
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❤️ Telegram channel: t.me/AndeWave
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.