Trend Favors Downside
The mid trend line has been used as resistance many times, but has also been used as support more recently. Further consolidation on the trend line can lead to a chance to test higher, but the combined indicator confluence leads to a more bearish short-term outlook.
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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.