The rising wedge/ ascending triangle pattern was broken by last nights dump. It did happen on a weekend when CME was closed, so maybe it isn't that big of a deal. Or maybe it is hinting of more downside. We really don't know. Only thing we can do is follow price action and see how it behaves level by level.
Key areas:
63k- need to close a 4H above to create a higher high and invalidate downside
58-60k- possible area where price may be rejected
56k- need to close a daily preferably below to create a lower low and confirm downside
50k- support area 1 (horizontal support)
43-45k- support area 2 (21 weekly EMA)
Key areas:
63k- need to close a 4H above to create a higher high and invalidate downside
58-60k- possible area where price may be rejected
56k- need to close a daily preferably below to create a lower low and confirm downside
50k- support area 1 (horizontal support)
43-45k- support area 2 (21 weekly EMA)
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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.
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.