Current View:
Structurally, a diagonal pattern is progressing. If the market rejects around the immediate resistance, or if the market initially declines, we can expect a minimum correction of 23% to 38%. If it breaks below 38%, the trend could shift into a correction phase. Conversely, if it does not break 38%, the diagonal pattern could extend further. This is our first variation.
Alternate Variation:
The alternate variation suggests that if the market consolidates around the immediate resistance, it will be a sign of bullish continuation. We can expect to see the next resistance level if it breaks through the current resistance.
Structurally, a diagonal pattern is progressing. If the market rejects around the immediate resistance, or if the market initially declines, we can expect a minimum correction of 23% to 38%. If it breaks below 38%, the trend could shift into a correction phase. Conversely, if it does not break 38%, the diagonal pattern could extend further. This is our first variation.
Alternate Variation:
The alternate variation suggests that if the market consolidates around the immediate resistance, it will be a sign of bullish continuation. We can expect to see the next resistance level if it breaks through the current resistance.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.