You are currently looking at daily chart. Purple lines are long term trend, yellow lines are medium term trend.
Clearly, we can see that we are touching yellow support.
My humble prediction is that we will bounce from yellow support to yellow resistance and then slowly ride down with yellow resistance until we touch and bounce of of purple support and break above purple resistance.
Clearly, we can see that we are touching yellow support.
My humble prediction is that we will bounce from yellow support to yellow resistance and then slowly ride down with yellow resistance until we touch and bounce of of purple support and break above purple resistance.
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Update on the prediction. Short term we are in up trend. Expect and watch out for touch of the purple line. Purple line will decide if we will go up or down.
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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.