As you can see from the chart, price breakout and retested a long-term descending wedge in which it was trading.
Price also made a double bottom reversal pattern before it breaks out of the wedge and resistance zone.
Considering that price has now breakout of the trendline of the corrective structure which retested the broken descending trendline, resistance turn support zone, and 61.8 Fib ratio. We are expecting a further bullish move to the next resistance level as projected on the chart.
Price also made a double bottom reversal pattern before it breaks out of the wedge and resistance zone.
Considering that price has now breakout of the trendline of the corrective structure which retested the broken descending trendline, resistance turn support zone, and 61.8 Fib ratio. We are expecting a further bullish move to the next resistance level as projected on the chart.