In this time frame, the price is moving in an upward trend line, and the $1685 range has also created resistance. With the formation of the bullish pennant pattern, which is a continuation pattern, we expect the price to rise to the $1685 range, and by crossing this resistance range, we expect higher targets. The bearish scenario is activated when the volume of sales is high, and by crossing the support range of the trend line, we expect a further drop to the range of $1606.
Resistance range: 1668-1686-1704
Support range: 1636-1625-1606
Resistance range: 1668-1686-1704
Support range: 1636-1625-1606
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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.