On the Daily, we can see that the rising channel has served as support and price has begun reacting. As a bull, I would look for a reversal pattern before entertaining any longs.
- Parallel channel shows the direction of the trend.
- Fibonacci retracement lines shows where the trades are taking place.
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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.