If the weekly 200ma (in blue) can maintain support then we should see a breakout no later than June. 2 possible bottom trendlines of the falling wedge here currently in play, with the purple one allowing for price to dip slightly lower and for the wedge to take slightly longer to breakout. *not financial advice*
Note
Looks like price action should be running into the top trendline of the wedge by some time in May, if not sooner.Trade active
The top trendline of the wedge has been putting up strong resistance as price action keeps pushing into it. It has knocked price action now back down to the blue 200ma. Likely to be a big squeeze coming up between that 200ma support and the top trendlines resistance. Hopefully sending the price shooting up from the wedge.Note
If the weekly 200ma currently at 1.19 loses support the next 2 supports are the bottom tan line currently around 84 cents and the purple line below that around85 centsNote
We now have 2 consecutive weekly candle closes above the wedge. 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.
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.
