Many of traders have mentioned the strong resistance line(red) and their views are bearish.
In my opinion, this red resistance line is the line to be broken, not to be bounced.
Because, on the daily chart, the resistance line from red b has declined 2 times, which means there were 5 waves from b.
That's why I think that the price would go upward strongly to break the resistance line in accordance with Elliot wave principle.
When it's broken, strong price movement, impulse, would be expected.
Moreover, the long term trend would turn bullish from bearish.
Let's see how it goes like.
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In my opinion, this red resistance line is the line to be broken, not to be bounced.
Because, on the daily chart, the resistance line from red b has declined 2 times, which means there were 5 waves from b.
That's why I think that the price would go upward strongly to break the resistance line in accordance with Elliot wave principle.
When it's broken, strong price movement, impulse, would be expected.
Moreover, the long term trend would turn bullish from bearish.
Let's see how it goes like.
PLEASE DO NOT FORGET TO LIKE👍🏻 AND FOLLOW ME! THANK YOU 🎉
