A rising wedge is generally considered bearish, especially if volume is decreasing into the apex
If price fails here & breaks the lower wedge line, it could trigger a pullback toward the pivot or
- R2 ($579.20) & the wedge top (~$579.5–$580)
- R3 ($585.24) if it breaks out
- Trendline support around $576, then R1 ($575.47) & pivot ($569.42)
If price fails here & breaks the lower wedge line, it could trigger a pullback toward the pivot or
- S1 ($563.38)
- Breakout above wedge & R2 could push quickly toward R3
- Break below wedge support could accelerate selling to pivot/S1
I am not a licensed professional & these posts are for informational purposes only, not financial advice
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.
I am not a licensed professional & these posts are for informational purposes only, not financial advice
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.