Immutable chart is simple; IMX was in a downtrend since the beginning. After the downward move ended and price broke the downtrend line, a strong impulse wave started. Then, IMX corrective phase unfolded in a triangle pattern-or some may say a descending channel. Now, it seems IMX broke this triangle pattern upward, and the next upward impulse wave should start soon. Let's see what happens.
Note
Note
So, it seems that IMX is moving in a big ascending channel. Recently, the correction ended when IMX reached the channel's lower line. Then IMX next upward phase started, broke the downtrend line, and is going up. Let's see what happens.
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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.