As we can see on the chart, price consolidated above major support zone taken from the monthly chart.
If we zoom in to the weekly time frame, we can see a false break from the recent lows and rejection from the bottom of the channel.
If we zoom in to the daily time frame, we can see a "V shape" and a small retracement above the previous weekly lows, suggesting price will continue further up.
Best of luck :-)
If we zoom in to the weekly time frame, we can see a false break from the recent lows and rejection from the bottom of the channel.
If we zoom in to the daily time frame, we can see a "V shape" and a small retracement above the previous weekly lows, suggesting price will continue further up.
Best of luck :-)
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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.