When we look at the bigger picture we can see a rising wedge, this could continue or break-out to the downside. Here are the two possibilities.
Long: we can see a rejection from here but there are different areas where we should be aware of. The first one is the possible head and shoulders movement, marked witht the box. It could be a short from there. The second one is based on a new resistance level that was formed, it could reject from there.
Short: we could see a break-out, enter at retest.
Please comment for any ideas or suggestions. Trade safe and goodluck!
Long: we can see a rejection from here but there are different areas where we should be aware of. The first one is the possible head and shoulders movement, marked witht the box. It could be a short from there. The second one is based on a new resistance level that was formed, it could reject from there.
Short: we could see a break-out, enter at retest.
Please comment for any ideas or suggestions. Trade safe and goodluck!