The price has been moving below the daily SMA200 for a year and a half.
All previous attempts to rise above, highlighted by the rectangles, have failed.
In recent weeks, the price has completed a double bottom with a neckline at $1070.
A close above this level confirms the double bottom pattern and positions the price above the 200 average, starting the new bullish cycle.
All previous attempts to rise above, highlighted by the rectangles, have failed.
In recent weeks, the price has completed a double bottom with a neckline at $1070.
A close above this level confirms the double bottom pattern and positions the price above the 200 average, starting the new bullish cycle.
Note
Breakout!Closing that way will start the uptrend to fill the GAP
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.
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.