preparing for a downside trend
Updated
I think that the price is preparing for a downside trend for the following technical reasons
1 monthly resistance
2 bearish divergence on weekly chart
3 bearish divergence on daily chart
4 The rising wedge pattern
1 monthly resistance
2 bearish divergence on weekly chart
3 bearish divergence on daily chart
4 The rising wedge pattern
Note
Every time the price hit the upper boundary of the wedge, it bounced down.. Will it rebound this time to reach the lower boundary?
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.