As it can be inferred from the Daily timeframe chart, the price has formed a nice double top at the level of previous support later turned resistance. Moreover, if we draw a Fibonacci on the Weekly timeframe, we can observe that the 0.618 level of it nicely aligns with the same level of resistance!
We are looking forward to opening short positions and aiming for the zone of support illustrated on the graph.
We are looking forward to opening short positions and aiming for the zone of support illustrated on the graph.
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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.