The counter is currently in a descending channel formation.
It is close to its upper parallel now which could cap any bullish movement.
So, traders can go short expecting a move to the lower parallel.
It is close to its upper parallel now which could cap any bullish movement.
So, traders can go short expecting a move to the lower parallel.
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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.