Bullish Flag Formation on 50% retracement and near monthly support level.
Reverse Head & Shoulders Pattern also nearing completion.
However, I believe that price will still fall to the lower end of the bullish flag channel because volume has been decreasing which indicates that the bulls are getting exhausted and may take a rest before breaking out of the flag pattern.
I believe that bears will not be strong enough to take out the 50% retracement level, monthly support, and 200 SMA.
Reverse Head & Shoulders Pattern also nearing completion.
However, I believe that price will still fall to the lower end of the bullish flag channel because volume has been decreasing which indicates that the bulls are getting exhausted and may take a rest before breaking out of the flag pattern.
I believe that bears will not be strong enough to take out the 50% retracement level, monthly support, and 200 SMA.
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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.