Price is moving along a slightly narrowing channel up to the 55 day EMA, hoping to breach it on the 3rd atttempt. A successful breach is bullish but a drop below the channel may mean a short/medium term top with downside up to about 7500 in the near term
Note
unfortunately we have broken downwards. I dont see much support until approximately 7500-7600. Failing for the third time to break the 55 EMA does not bode well in the medium term
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.
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.