the market is currently in an ascending channel and is testing the support of the pattern, the market has history of finding value when it tests this level , to confirm bullish continuation we can use the smaller time frame look for supporting patterns like bullflags etc, if the market fails to close above support it might signal further selling pressure
Note
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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.