In the current situation there is no up or down indicated. The price could be in a bear flag. it has completed a 61% retracement and went above that toward the 78% retracement but not touching it. The last leg up was celebrated as a breakout but price turned back down to play the range game in between its Bollinger bands. This assumption is supported by the low ADX that indicates range play as well. The Momentum of the next low in price will give hints to decide which direction is to favor.
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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.