Price had been trading inside a corrective structure, where sellers attempted to push price lower but failed to gain full control. Instead, buyers continued to defend key levels and gradually built pressure.
Eventually, price broke above the descending trendline with strong momentum, signaling that buyers are starting to regain control and the previous bearish pressure is weakening.
If price retests the breakout area and holds above it, that would provide a stronger confirmation for continuation, showing that buyers are ready for the next impulsive move higher.
My target would be around 233.00.
Eventually, price broke above the descending trendline with strong momentum, signaling that buyers are starting to regain control and the previous bearish pressure is weakening.
If price retests the breakout area and holds above it, that would provide a stronger confirmation for continuation, showing that buyers are ready for the next impulsive move higher.
My target would be around 233.00.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.