US30 will touch resistance line and FALL
In the first week of November, the price received a small upside impulse from the support line. And, having risen, she began to form a channel. In which it moves all this time.
But on the larger timeframe, you can see that strong growth began even earlier, from the point - 26464.
Such an impulse, together with an already explicit channel, form a flag pattern.
After exiting the pattern, the price should continue its trend. And knowing this while we can predict the nearest price movement.
She recently touched the lower border of the channel - the support line. And has almost reached the line of resistance. Therefore, I expect the price to touch the resistance at 30150 and then fall.
Target - support line 29368.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
But on the larger timeframe, you can see that strong growth began even earlier, from the point - 26464.
Such an impulse, together with an already explicit channel, form a flag pattern.
After exiting the pattern, the price should continue its trend. And knowing this while we can predict the nearest price movement.
She recently touched the lower border of the channel - the support line. And has almost reached the line of resistance. Therefore, I expect the price to touch the resistance at 30150 and then fall.
Target - support line 29368.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
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