As the price has tried to push upwards this year but has met resistance at fib levels and so forming a descending triangle pattern this year (or at least a descending channel, not drawn here).
The price has been performing in a bearish KUMO area since march and I do believe that we wont be seeing any higher prices going much over 950-960 in near future (KUMO and FIB resistance), but rather a price closer to 800, especially if it breaks below 900 in a few weeks, breaking out down of the triangle pattern.
Any thoughts?
The price has been performing in a bearish KUMO area since march and I do believe that we wont be seeing any higher prices going much over 950-960 in near future (KUMO and FIB resistance), but rather a price closer to 800, especially if it breaks below 900 in a few weeks, breaking out down of the triangle pattern.
Any thoughts?
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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.