This chart shows an ascending triangle. We have a horizontal resistance level that price keeps rejecting, while each pullback becomes shallower. That suggests buyers are getting more aggressive and are willing to bid higher.
If price manages to close above the resistance, it could trigger a breakout. However, I would prefer to see a retest hold before considering a long position.
If price manages to close above the resistance, it could trigger a breakout. However, I would prefer to see a retest hold before considering a long position.
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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.