Presented without comment
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Here's a possible scenario in case we push a little bit lower ... Note
Triangle is playing out. Watch for breakout at downside Note
Triangle has played out with a swift drop into 5.9k, however bullish divergence is back on every timeframe, and shorts are rising parabolic. Can this downtrend continue for much longer?Note
Seems like a pretty decent chance that the low of 5750 or so will hold. Divergence on the 1-hr, 4-hr, daily timescales cannot be ignored. Still very choppy waters ahead but a good chance that this low will hold for a while.
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Fantastic analysis & commentary in this video
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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.