The index is in an ascending channel in the hourly chart.
It hit the resistive trendline and has made a double top pattern.
Also, the RSI indicator has signaled topping out by crossing the 70 level mark from above.
Hence, we expect the pair to move to the support trendline for now.
It hit the resistive trendline and has made a double top pattern.
Also, the RSI indicator has signaled topping out by crossing the 70 level mark from above.
Hence, we expect the pair to move to the support trendline for now.
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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.