We saw a rounded top recently , signalling bulls are getting tired and may lack strength to push it higher .It needs a rest , to come downhill and graze and drink water before charging uphill again.
It may goes sideway around the 69.17 level for a while before we see another rebound.
Or the uphill march since March 2020 was taking a toll on the bull's legs , it might decide to take a longer break and rest even longer. Then, we would see it breaks down the bullish trend line temporarily to revisit 63.98 support level, forming an even bigger rounded top.
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It may goes sideway around the 69.17 level for a while before we see another rebound.
Or the uphill march since March 2020 was taking a toll on the bull's legs , it might decide to take a longer break and rest even longer. Then, we would see it breaks down the bullish trend line temporarily to revisit 63.98 support level, forming an even bigger rounded top.
Read latest news here
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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.