Short term TA, i.e.; more speculative - possibility of a descending triangle forming within the downward channel... and target.
Can price invalidate the shortest term TA on this chart - the descending triangle with fib extension. Will be interesting to see where price closes.
Some strength shown here. Can price close above the short term line of resistance. If so, can it then close above the medium term line of reistance. Some work to do yet.
Shorter term invalidated. Some work ahead for price if it's to break the trend on the medium term.
What's interesting to note is a 'breakout bid' placed *above* a diagonal [or horizontal] line of resistance will often do well. Once a significant point of resiusatnce is broken, price can do a runner. A look at this a lot on my alts page, where I trade the more volatile alts
Wanting to see some follow through in the shorter term here. Can price break the horizontal and make a higher higher low?
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