Price for this symbol is currently running in a falling channel . Inside the falling channel is a symmetric triangle and current price is near the resistance of this structure. Should this structure break and price breaks through the neckline of currently forming double bottom (formation is underway), this could likely see price go all the way to 111.65. For a more conservative play, look at how price reacts at the resistance of the falling channel which is about 110.50 area, if break then 111.65 area is a possibility. If the resistance of the falling channel holds, then we would likely see a reversal of price around the 111.50 area.
Disclaimer: This is not a financial advice This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me
Disclaimer: This is not a financial advice This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me