Note: This is for educational purpose only.
There is a wedge chart pattern formation on daily charts. In such case, there can be an upper or lower breakout. Best is to wait for the price to break out in either direction. RSI is below 50 so momentum seems to be bearish but this alone should not be used to determine the breakout.
Long term support and resistance and support are plotted too. Best would be to either wait for Wedge pattern breakout or the price to reach support or resistance and based on the price action take a trade.
There is a wedge chart pattern formation on daily charts. In such case, there can be an upper or lower breakout. Best is to wait for the price to break out in either direction. RSI is below 50 so momentum seems to be bearish but this alone should not be used to determine the breakout.
Long term support and resistance and support are plotted too. Best would be to either wait for Wedge pattern breakout or the price to reach support or resistance and based on the price action take a trade.
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