Ascending Triangle pattern in downtrend.
Possible resistance between 5.9 and 6.1 approx. Crossing at point of control of the current swing (range of price most traded) and the Golden ratio of 61.8% retracement.
Possible support between 3.8 and 4.2 approx.
Price sitting at it's EMA13 (purple).
Accumulation Distribution trending upward above it's ema13 (black/aqua)
MACD shrinking both below and above.
It is very likely it will break to the upside. It can go either to the current resistance, or penetrate it and make a double top. It depends on the market willingness to buy at this point.
Just an OPINION if it adds value please LIKE and FOLLOW. Best of Best my Friend :)
Possible resistance between 5.9 and 6.1 approx. Crossing at point of control of the current swing (range of price most traded) and the Golden ratio of 61.8% retracement.
Possible support between 3.8 and 4.2 approx.
Price sitting at it's EMA13 (purple).
Accumulation Distribution trending upward above it's ema13 (black/aqua)
MACD shrinking both below and above.
It is very likely it will break to the upside. It can go either to the current resistance, or penetrate it and make a double top. It depends on the market willingness to buy at this point.
Just an OPINION if it adds value please LIKE and FOLLOW. Best of Best my Friend :)
“All fixed set patterns are incapable of adaptability or pliability. The truth is outside of all fixed patterns” BL
Trader Since 2016. Industrial and Operations Engineering at U of Michigan, Ann Arbor. MBA IPADE. Master in Finance EGADE.
Trader Since 2016. Industrial and Operations Engineering at U of Michigan, Ann Arbor. MBA IPADE. Master in Finance EGADE.