The overall trend has been in a bearish channel since November 2015. Price action has put in a new Low and has ascended close to the top of the channel, putting in a Triple top near previous resistance levels at a 61.8 retracement with bearish divergence in the RSI. I expect to see another bearish movement down into at least a 127 extension.
I have identified a Flag pattern/ Ascending triangle pattern indicating a possible continuance to the upside so I have set an order to buy if my stops are hit. I have doubts that will happen because much of a continuance upward would break above previous structure highs and through the channel ceiling.
I have identified a Flag pattern/ Ascending triangle pattern indicating a possible continuance to the upside so I have set an order to buy if my stops are hit. I have doubts that will happen because much of a continuance upward would break above previous structure highs and through the channel ceiling.