- Prices have been evolving below a bearish trendline, registering lower highs but no significant new market bottoms since May 2011. The long-term trend is then neutral.
- However, even though prices have still been consolidating laterally over the last year, they also managed to clear their bearish trendline by successfully rebounding multiple times over...
After such a dramatic rise in a down trend the price is due for a correction downwards.
Also the RSI was very high as well so that supports this prediction.
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