the monthly chart is not a complex one,
from January 1985 till March 2015, the
lower trend line has provided a support. as
you can see, WXY was perfect as Y
leg ended at exactly 100% of W leg. as the supporting
trend line has been broken, I presume that
the selling continues towards Z leg. alternatively,
if buyers can push the price back into
the trend line and above X leg, then we will
likely go back to upper trend line
from January 1985 till March 2015, the
lower trend line has provided a support. as
you can see, WXY was perfect as Y
leg ended at exactly 100% of W leg. as the supporting
trend line has been broken, I presume that
the selling continues towards Z leg. alternatively,
if buyers can push the price back into
the trend line and above X leg, then we will
likely go back to upper trend line
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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.