Nav - long term upwards channel
Could happen, could not happen
Looks to me like we've been in a long term upwards channel. The recent peak to the top of the channel would suggest that we are nearing the dump phase towards the bottom of the channel. There hasn't been any downwards crosses on the emas, so no indication that the dump has started yet, although in the past it was rather slow and took somewhere around 100-180 days to complete before pumping back to new highs significantly quicker.
I would be keeping an eye on this one, especially if it starts to get closer to the emas. The 200d has been acting as dynamic support, target is based on this and previous resistance turned support, which coincides with the lower line of the channel.
Looks to me like we've been in a long term upwards channel. The recent peak to the top of the channel would suggest that we are nearing the dump phase towards the bottom of the channel. There hasn't been any downwards crosses on the emas, so no indication that the dump has started yet, although in the past it was rather slow and took somewhere around 100-180 days to complete before pumping back to new highs significantly quicker.
I would be keeping an eye on this one, especially if it starts to get closer to the emas. The 200d has been acting as dynamic support, target is based on this and previous resistance turned support, which coincides with the lower line of the channel.
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.