Hi Traders,
the market was moving in an Uptrend.
As you can see, we here have a strong daily
Trendline which was respected frequently and
since a long time.
Recently, it got broken, which indicates
bearish power and the weakness of the bulls.
It seems like the Trendline is over now.
Now, the market made one lower Low and
two lower Highs.
That's why a descending Triangle is visible now.
As the lower Highs are pressuring towards the Support,
a bearish Breakout is expected.
The target is the next Resistance.
Take care: Sometimes, the price breaks the Trendline bullish,
just to immediatly fall down.
We recommend to keep different scenarios in mind.
Thanks and successful Trading :-)!
the market was moving in an Uptrend.
As you can see, we here have a strong daily
Trendline which was respected frequently and
since a long time.
Recently, it got broken, which indicates
bearish power and the weakness of the bulls.
It seems like the Trendline is over now.
Now, the market made one lower Low and
two lower Highs.
That's why a descending Triangle is visible now.
As the lower Highs are pressuring towards the Support,
a bearish Breakout is expected.
The target is the next Resistance.
Take care: Sometimes, the price breaks the Trendline bullish,
just to immediatly fall down.
We recommend to keep different scenarios in mind.
Thanks and successful Trading :-)!
