Price has been respecting a clean uptrend for a while now, higher highs, higher lows, and a rising trendline guiding the entire move.
After the latest push upward, price pulled back and formed a pretty nice bullish flag.
This is exactly what you want to see inside an established uptrend, a controlled retracement, shallow pullback, no aggressive selling.
Sellers couldn’t break lower, momentum stayed intact, so the overall structure remains bullish.
Now price is breaking out of the flag and I think a continuation is likely.
If price stays above the trendline and doesn’t break down from the flag’s lows, my expectation remains higher.
My target would be at around 113.150.
After the latest push upward, price pulled back and formed a pretty nice bullish flag.
This is exactly what you want to see inside an established uptrend, a controlled retracement, shallow pullback, no aggressive selling.
Sellers couldn’t break lower, momentum stayed intact, so the overall structure remains bullish.
Now price is breaking out of the flag and I think a continuation is likely.
If price stays above the trendline and doesn’t break down from the flag’s lows, my expectation remains higher.
My target would be at around 113.150.
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👉Get 20% Deposit BONUS - bit.ly/trenddiva
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.