If you draw the current falling wedge since 2019 high on log chart - it would have more touch points than on regular chart. And blue ascending would not come from nowhere, it actually first acted as support in April 2013, 6.5 years ago!
We are still inside falling wedge - bullish.
We didn't break down the longterm ascending trendline - bullish.
If we break up 7900 - it would be very bullish sign.
But we should go much lower than 7000 - it's the most important support for now.
We are still inside falling wedge - bullish.
We didn't break down the longterm ascending trendline - bullish.
If we break up 7900 - it would be very bullish sign.
But we should go much lower than 7000 - it's the most important support for now.
Comment:
You can draw the same trendlines on regular chart, but it doesn't look that well:
Comment:
should go much lower - i meant "should NOT go much lower"