A lot has happened since the last chart was published. Past 2 weeks has reshaped the pattern.
The price is currently sitting on lower trend line of a descending wedge at around $135 area. $135 has provided as support prior 3 times and it provided support again in today's trading session.
It may be a signal that reversal could be happening and the price could again travel towards the upper trend line area of around $144.
If the price breaks above $146, we can expect the price to travel to $151 which is prior all time high. If the momentum allows, we can see $160.
Anything is possible in this volatile market. If the price breaks below $135 support, we can expect to see $127.29.
Bullish Target 1 - $144
Bullish Target 2 - $151
Bearish Target - $127.29 (If the price breaks below $135 support.)
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
The price is currently sitting on lower trend line of a descending wedge at around $135 area. $135 has provided as support prior 3 times and it provided support again in today's trading session.
It may be a signal that reversal could be happening and the price could again travel towards the upper trend line area of around $144.
If the price breaks above $146, we can expect the price to travel to $151 which is prior all time high. If the momentum allows, we can see $160.
Anything is possible in this volatile market. If the price breaks below $135 support, we can expect to see $127.29.
Bullish Target 1 - $144
Bullish Target 2 - $151
Bearish Target - $127.29 (If the price breaks below $135 support.)
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.