So, for starters we can clearly see the 1 year long hidden bullish divergence still in play. At the same time however, we are now seeing a rejection on the daily downward sloping trendline.
So how low could we correct here?
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Well, i guess we could form a double bottom here after which we could go further to the upside while keeping the hidden divergence intact. What do you guys think, do let me know please.
Happy trading !!
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Another retrace possibility would be the formation of the right shoulder of this potential inverted head and shoulders pattern :