Last week, the downtrend continued, but after the weekend, the price staged a fast recovery. Right now, it’s trading above the weekly pivot point but hasn’t managed to break the descending trendline yet. We might see a short pullback before another push higher toward the weekly targets and the monthly pivot. However, if negative news hits or the price shows weakness after breaking the weekly pivot, we could get another leg down toward the 3rd monthly target
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The author's opinion may differ from yours,
Consider your risks.
Wish you successful trades ! mura
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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.