Main Items we can see on the chart
a) The price is on a Weekly Support zone
b) We have a Descending trendline that represents the last dynamic resistance before the bullish target
c) Currently, we have a descending movement just on the edge of the mentioned trendline (yellow lines)
d) If the price breaks above the yellow lines, we will consider as a confirmation for the bullish movement
e) If you are thinking about taking long setups on this analysis, we will wait for the breakout and then a corrective structure as the one you can see on the chart (purple lines)
f) We also have an invalidation zone for the long view in case the price reaches that level.
WEEKLY CHART:
a) The price is on a Weekly Support zone
b) We have a Descending trendline that represents the last dynamic resistance before the bullish target
c) Currently, we have a descending movement just on the edge of the mentioned trendline (yellow lines)
d) If the price breaks above the yellow lines, we will consider as a confirmation for the bullish movement
e) If you are thinking about taking long setups on this analysis, we will wait for the breakout and then a corrective structure as the one you can see on the chart (purple lines)
f) We also have an invalidation zone for the long view in case the price reaches that level.
WEEKLY CHART:
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