1. Bullish Scenario (Breakout to the Upside):
• If the price closes daily above 5.60 or 5.80 with strong momentum, it would confirm a breakout from the descending channel.
• The next potential target could be in the range of 6.20 – 6.50.
2. Bearish Scenario (Rejection from the Upper Channel):
• If the price fails to break above 5.60 and gets rejected from the upper trendline, it may pull back to test support levels around 5.00 – 4.85.
• If the price closes daily above 5.60 or 5.80 with strong momentum, it would confirm a breakout from the descending channel.
• The next potential target could be in the range of 6.20 – 6.50.
2. Bearish Scenario (Rejection from the Upper Channel):
• If the price fails to break above 5.60 and gets rejected from the upper trendline, it may pull back to test support levels around 5.00 – 4.85.
Alshihry
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.
Alshihry
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.