Here we see a Descending Channel.. this should last as long as it is until the channel is broken. For long term traders, here's a free signal.
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The price is trapped for now, we would wait for breakouts and retracements. From then we will be certain of the orders we will place.
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After careful consideration of the current price of EN, the price may rally down in lower timeframes for a little bit, then move up... The Monthly chart horizontal line would be retested againthen shootup. Use Fibonacci for entry points.
This is consolidation, it means the price is trapped between these 4 lines. We would wait for a breakout and retracements among these lines, then could probably look for long term trade.
