Right now I see two possible scenarios:
Bullish scenario:
We hold the current zone and start reversing toward the purple zone (the resistance of the descending channel).
From there we will see how the price reacts — if it breaks above this level, the next targets will begin to play out.
Bearish scenario:
If the current zone does not hold, the price may retest the green channel and possibly even the blue zone.
In any case these are global targets and for now the price action is expected to develop within this broader range.
Bullish scenario:
We hold the current zone and start reversing toward the purple zone (the resistance of the descending channel).
From there we will see how the price reacts — if it breaks above this level, the next targets will begin to play out.
Bearish scenario:
If the current zone does not hold, the price may retest the green channel and possibly even the blue zone.
In any case these are global targets and for now the price action is expected to develop within this broader range.
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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.
Related publications
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.