Two things are either clearly possible to play out in favor of either direction of the market, Breaking of the overall trendline, that is bounce off from the counter trendline would be a confirmation for a more BULLISH movement but where the counter trendline is broken, then the BEARS would have it .
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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.