The counter made a V-shaped recovery after hitting the lows.
However, the recovery was capped by the resistance of 0.69474 and resulted in a double top formation.
Now, it broke the support of 0.68577, which turned the MACD indicator bearish.
Hence, we expect the counter to be bearish from here.
However, the recovery was capped by the resistance of 0.69474 and resulted in a double top formation.
Now, it broke the support of 0.68577, which turned the MACD indicator bearish.
Hence, we expect the counter to be bearish from here.
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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.