The instrument was trading in a global bullish trend inside a rising channel. This trend has been broken last week. Now the price seems to approach and retest the broken channel and a key confluence zone. If the price clearly rejects from these zones, I'll be looking for further bearish movements.
Please do your own analysis before placing any trades.
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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.