The breakout from last week has all the looks of failed one. Failed breakouts often lead to sharp moves in the opposite direction. Given the Hindenburg report, expected reversal is not big news. For now the price keeps going further into the apex of the triangle which typically negates the pattern. Anyway, we need to get out of the $30-$37 range in order to consider the situation resolved. Today's recovery was impressive but not enough.
Note
down at $33 after hours
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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.