The end of the descending Wedge comes at E. We've been in a downward channel for the last several months. This recent leg downward has become a wedge and it's close to touching the bottom of the channel. Measured moves (2) are shown by the blue dotted lines with brief descriptions of why. Target price once the wedge becomes to tight marked. From a risk / reward standpoint it's easier to justify being bullish at these levels than bearish.
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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.