The chart shows the price is traveling in a descending parallel channel formation. This time reaching towards the upper levels of the channel. If rejected from the levels of 2044-2052, may be in a downtrend for further sessions. Possible targets are indicated on the charts.
This illustration is my personal view only, for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
This illustration is my personal view only, for learning and sharing purposes, not a piece of trading advice in any form.
All the best.
Comment:
Hovering at the higher levels of the parallel channel. Giving sufficient time according to our setup. Let's see, what happens next.
Comment:
Had a spike up to 2057, now coming down to 2046. Looks like the setup may work. keep watching.