the price clearly touched the monthly, weekly and daily important zone which is marked by the blue line(weekly). on the daily time frame we can see a yellow triangle zone that is formed based on 2 important downward trend lines (green and magenta lines). So, among all the theories of the prices future movement, two of them came to my mind.
1st: the price can sharply move up to the resistance zone (the red horizontal line). this is more probable for me.
2nd: the price move up slowly and will have a sort of sinusoidal motion, within the yellow zone, breaks it, retest and start to go up.
1st: the price can sharply move up to the resistance zone (the red horizontal line). this is more probable for me.
2nd: the price move up slowly and will have a sort of sinusoidal motion, within the yellow zone, breaks it, retest and start to go up.
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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.