There are several factors at play, but all can still fail.
RSI Divergence: Positive divergence on daily and weekly charts.
Pattern: Formation of a W-pattern on the daily chart, now retesting the range
Key Levels: Price near the 200-week moving average and a long-term trendline (since 2020).
Candlestick: Engulfing candle formed earlier on the weekly chart.
Breakout: Upper trendline resistance has been broken.
These signals suggest a bullish scenario, but risks remain due to potential failures.
RSI Divergence: Positive divergence on daily and weekly charts.
Pattern: Formation of a W-pattern on the daily chart, now retesting the range
Key Levels: Price near the 200-week moving average and a long-term trendline (since 2020).
Candlestick: Engulfing candle formed earlier on the weekly chart.
Breakout: Upper trendline resistance has been broken.
These signals suggest a bullish scenario, but risks remain due to potential failures.
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.
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.