Here on the weekly time frame, we can see price is within a descending channel. We are expecting a bearish momentum and trend as it hit the weekly resistance as well. If the weekly candles closes as a bearish engulfing candle we can expect a confirmed down trend signal.
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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.