Chart Pattern Analysis Of SOXL

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From K4 to K6,
It is a bullish three soldiers stalled pattern.
It verified a fact that the resistance becomes stronger here.
At this case,
The risk increased.
A larger scale consolidation or a bear trend is on the way.

If the following candles failed to close upon the resistance,
It will be a good place to decrease the long-term positions at 0.5-0.618fib area.
The following candles will test or break down the support.

The following candles shouldn’t close below the support,
If K7 close below it.
It is likely that a bear run will start here to test 88USD area.

Feragatname

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