After the recent rally, the price found some resistance at the previous lower high. The way the price action is looking, I'm expecting a correction to develop before resuming the uptrend.
Worst case, a deeper pullback towards the sweet spot from the Fibonacci level (50%-62%) is expected.
Worst case, a deeper pullback towards the sweet spot from the Fibonacci level (50%-62%) is expected.
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The price is starting to reach the sweet spot. Only thing to do now is to wait and wait for the price action to develop. The price could retrace even more from here so make sure to wait for a reaction.
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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.