Use this as a guide to identifying the most relevant technical Areas on the chart
Main Items we see on the Daily Chart:
a)Price Broke out from a descending channel
b)Currently the price is on a Bullish Corrective structure (possible flag pattern / yellow lines)
c)We can see how the price re tested the monthly trendline and was rejected from there (dot lines)
d)We thinkin that the price will test the broken descending channel, before the breakout of the corrective structure
e)If that happens there is a good long setup there
f)But the main short setup is on the major resistance zone + the monthly trendline
Weekly Chart:
Monthly Chart:
Main Items we see on the Daily Chart:
a)Price Broke out from a descending channel
b)Currently the price is on a Bullish Corrective structure (possible flag pattern / yellow lines)
c)We can see how the price re tested the monthly trendline and was rejected from there (dot lines)
d)We thinkin that the price will test the broken descending channel, before the breakout of the corrective structure
e)If that happens there is a good long setup there
f)But the main short setup is on the major resistance zone + the monthly trendline
Weekly Chart:
Monthly Chart: