Market tested intermediate trend support multiple times. We have bullish divergence and a possible resistance break out from the down trend that started 6/18.
For this setup:
(1) Price must break out of trend line resistance
(2) RSI continues to diverge and find support, and breaks out of resistance
(3) Duration could be 2 to 3 days in length, potentially longer or shorter depending on the price behavior
RED circle w/blue horizontal line is the entry area.
For this setup:
(1) Price must break out of trend line resistance
(2) RSI continues to diverge and find support, and breaks out of resistance
(3) Duration could be 2 to 3 days in length, potentially longer or shorter depending on the price behavior
RED circle w/blue horizontal line is the entry area.
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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.