The price is moving in an upward channel, it is currently at a level of resistance, where it opened with a gap on sunday night, and is half-way through the last leg of the AB=CD pattern within the channel.
Note
Since the price is right under an important level of resistance, it could go down to bounce on the trendline, and go retest the same resistance to break it and go to the top of the channel
Note
Price is retracing nicely towards the base of the channel. Get ready to ride loooooooonnnnng :)
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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.