Bounce off blue line could indicate good long play to 14
lower blue line has been support on multiple occasions; its the weekly chart support line;
Overall, we're in a downward wedge; it is not being squeezed, so i do expect the price to continue to go down; but you can catch it going up first before it continues to move even lower;
Price target for me is 14
But absolutely wait for the bounce first; even after the bounce; your sell point should still revolve around the blue line;
Overall, we're in a downward wedge; it is not being squeezed, so i do expect the price to continue to go down; but you can catch it going up first before it continues to move even lower;
Price target for me is 14
But absolutely wait for the bounce first; even after the bounce; your sell point should still revolve around the blue line;
Trade closed: stop reached
Looks like it broke the channel; this is most likely going to continue to head down now; unchartted territory; so we don't really know how low it will go.
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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.