The price is currently trading within a 4H Channel Down (RSI = 43.283, MACD = -41.400, Highs/Lows = -28.0287). Yesterday's inability however to make a full Lower High near 4,100 has created a Falling Wedge within the Channel Down that is narrowing down towards a 3,645.00 target.
If we do however consider 4,034 as the Lower High, then it may follow the pattern's candle sequence that indicates a Lower Low around -12.50% from the High. This suggests a full distance sell TP = 3,530.
Always keep in mind that we are approaching the long term bottom.
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If we do however consider 4,034 as the Lower High, then it may follow the pattern's candle sequence that indicates a Lower Low around -12.50% from the High. This suggests a full distance sell TP = 3,530.
Always keep in mind that we are approaching the long term bottom.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
