There's a very long descending line of resistance going all the way back to early 2021 - this has been tested a few times historically and the price has failed to push through on every occasion.
Once again this level has been tested in the past few days and again it seems to have rebounded to the downside; we do however have a nice level of consolidation to help us predict how fast and how far the price may drop.
We're setting our target at the level shown, a nice 14% below the Short entry as illustrated to the bottom of the given channel.
Once again this level has been tested in the past few days and again it seems to have rebounded to the downside; we do however have a nice level of consolidation to help us predict how fast and how far the price may drop.
We're setting our target at the level shown, a nice 14% below the Short entry as illustrated to the bottom of the given channel.
