premature chart. Graphing to follow. No positions open yet.
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the downward movement is preferable as it opens up a new channel. This breaks the bearish rising wedge.
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Nav is revealing two possible paths: 1 path is a falling wedge, the other is a descending triangle.
The falling wedge is reaching the point of breakout, but volume is low. The RSI is showing undersold, so this is also a good indication a breakout is likely.
However, if we don't breakout in the next 3 days OR we move below, 2400, the descending triangle is the next analysis I will follow.
When looking to acquire, I am waiting to see how it will move. If the breakout starts, I will acquire before 10% rise. So, buy order at 2860.
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followed red arrow in descending triangle. Looking for bottom to purchase.