On this chart we can see that the weekly movement neared the upper resistance trendline but failed to touch it by closing the week with a bearish engulfing candle. This might mean a reversal into the previous resistance point now turned into a support zone to watch. Any price movement below that zone might mean a reversal pattern coming in action.
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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.