Looking at a longer term chart.
This descending triangle could break. If that happens then the technical target based on the length of the left side of the pattern gives a price of 1800.
As it happens the last major low is at 1826 so it does tie in quite nicely.
However, is is possible that it break out of the pattern upwards. This would be extremely bullish, assuming it's not a false break.
This descending triangle could break. If that happens then the technical target based on the length of the left side of the pattern gives a price of 1800.
As it happens the last major low is at 1826 so it does tie in quite nicely.
However, is is possible that it break out of the pattern upwards. This would be extremely bullish, assuming it's not a false break.
Comment:
triangle/wedge