A price action close to the lower range of the linear regression channel pattern increases the likelihood of a mean reversion trade.
A price action below 7800 supports a bearish trend direction.
The move also originates from a previous extremely y strong bullish trend.
RSI leaves enough room for further downside price potential.
MACD bearish crossover (lower panel) also confirmed a change in trend direction.
A price action below 7800 supports a bearish trend direction.
The move also originates from a previous extremely y strong bullish trend.
RSI leaves enough room for further downside price potential.
MACD bearish crossover (lower panel) also confirmed a change in trend direction.
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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.