Price was in a downtrend on daily time frame, however, the months old descending trendline is broken, hinting the return of bulls. The notion is further validated by the emergence of a bullish divergence along with a double bottom reversal pattern. If previous lower high is broken successfully then we can expect a bullish reversal as per Dow theory. Targets are mentioned on the chart.
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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.