After rising for quite a while, the price has finally reached an important area of resistance.
Looking at the historical price action, we can observe how a nice double top was formed earlier in July of this year before a bearish rally happened.
Paying a close attention to the current price development, we can infer that there is a high possibility for another double top to be formed before an upcoming drop.
Once enough confirmations are provided, we will be looking into entering short positions and aiming for the area illustrated on the chart as an initial target.
Looking at the historical price action, we can observe how a nice double top was formed earlier in July of this year before a bearish rally happened.
Paying a close attention to the current price development, we can infer that there is a high possibility for another double top to be formed before an upcoming drop.
Once enough confirmations are provided, we will be looking into entering short positions and aiming for the area illustrated on the chart as an initial target.
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