The price is at a turning point:
In the short term, the key is to see if it can break the 61.8% Fibonacci resistance (USD 72.29) and confirm with volume.
Downside risk remains as long as it does not break above the descending trendline.
Aggressive traders could look for entries on a confirmed breakout, while conservative profiles would wait for a close above USD 74.7 to reduce risk.
In the short term, the key is to see if it can break the 61.8% Fibonacci resistance (USD 72.29) and confirm with volume.
Downside risk remains as long as it does not break above the descending trendline.
Aggressive traders could look for entries on a confirmed breakout, while conservative profiles would wait for a close above USD 74.7 to reduce risk.
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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.
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.