An incomplete Head and Shoulders pattern appears to be forming, along with a prolonged consolidation. It can be assumed that if the price breaks above the consolidation range with a candlestick close and confirms with a retest, a strong upward movement may be expected. However, if there are any significant fundamental shifts in the market, the opposite scenario may occur.
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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.