It appears that the price has breached the neckline of the double top pattern, and now we're witnessing a retracement towards the overlapping resistance level, coinciding with the 50% Fibonacci retracement. My analysis suggests that a potential rejection from this level may pave the way for a downward movement towards the support level, aligning with the 127.6% Fibonacci projection.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.