At the very end of last week, the price showed a sharp and very strong growth. As a result, she came to the resistance line. It is necessary to clarify that this line has formed on the chart since August 2019. That is, it has been affecting price movements for more than a year now.
The closest example is on October 21, when the price also touched the line and then dropped. Together with a small support line, this resistance line forms an upward channel, which began to form in early September. And now the price is at its upper border.
I expect that after such a strong rally, it will now reverse in a downtrend and fall. The target is thus a support zone at the intersection of two lines.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.