Price is mainly driven by wedges, We have a falling wedge on the weekly chart which hasn't been broken yet and we also seem to have an ascending wedge on the daily chart, which price has broken out of without forming a proper correction, And we also have an ascending wedge on the hourly time frames initiating a correction towards the broken daily wedge.
I am expecting a rejection when price reaches current support levels, which could push the price higher for a proper correction before falling long term.
I am expecting a rejection when price reaches current support levels, which could push the price higher for a proper correction before falling long term.
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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.