descending channel, respecting established levels amazingly well... if 46.93 is lost as support, a bigger move down is possible and could be a great short opportunity recently bounced down from 20sma, which is not bullish MACD relatively low, SRSI death cross printed, RSI could go pretty much anywhere from this position... So I guess we should pay attention to that support level and on that resistance trendline of descending channel. Anyway, can't go up while at least break up from that 20sma (blue line). Good luck traders
looks more like a descending wedge structure to me....
But anyhow, could be a great buy not right now but soon. On my watchlist now. Thanks for sharing!
PhilosophersStone
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@benarni, could be mate, but there I see only 2 points on the support trendline on a wedge, and 4 of them on the support trendline for the channel... that's the only reason I draw it like this, anyway, both are bullish figure... Thanks for the comment mate
But anyhow, could be a great buy not right now but soon. On my watchlist now. Thanks for sharing!