We talked about the price to target another 30% when it was around 200 based on the structure. The price has now hit that zone of 263. Now that completes the inverse H&S setup we saw and talked about when price was around 200. Now a weekly as well as a monthly resistance are sitting around this area (260-280) as well. This has a potential to push the price down. It is favorable to offload any long position here and wait for the price action to guide the next step.
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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.