A volatile sellout sends price down to mid-1500s before recovering back above 1650 critical
Resistance can be seen at the long-term descending pattern extension (upper green) which was assumed support prior to the double-top.
We should now look towards the outlier trendline (lower green) as next major hold, noting that it'll likely be adjusted based on upcoming PA. The solid red line acts as a temporary average.
Also notice that H1 200EMA is now at long-term ascending support which will make this a much tougher spot to break.
www.tradingview.com/chart/gDBkksfy/
Resistance can be seen at the long-term descending pattern extension (upper green) which was assumed support prior to the double-top.
We should now look towards the outlier trendline (lower green) as next major hold, noting that it'll likely be adjusted based on upcoming PA. The solid red line acts as a temporary average.
Also notice that H1 200EMA is now at long-term ascending support which will make this a much tougher spot to break.
www.tradingview.com/chart/gDBkksfy/
