As you see in the 4H time frame, after a sharp drop, price started to retrace and rest for a while.
Currently, it is bouncing in a yellow sideways zone in the form of a rectangle pattern.
We can see the bearish pressure pushing the price to the downside.
If price breaks the sideways zone to the downside and closes a bearish candle below this area, I expect a drop on UJ around the marked green levels which are the support levels.
Currently, it is bouncing in a yellow sideways zone in the form of a rectangle pattern.
We can see the bearish pressure pushing the price to the downside.
If price breaks the sideways zone to the downside and closes a bearish candle below this area, I expect a drop on UJ around the marked green levels which are the support levels.
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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.