🔸 WEEKLY CHART EXPLANATION:
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🔸 Price is on a Downtrend.
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🔸 We observe that was rejected at the confluence zone between the Descending Trendline and the Resistance Zone.
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🔸 If it breaks to the upside then the bullish scenario would be active, and the target of the move is the Resistance Zone. And, if price continues to the downside, then it has potential to reach the Support Zone.
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🔸 Will look for lower timeframe setup.
🔸 DAILY CHART ANALYSIS:
.
🔸 Price is on a Downtrend.
.
🔸 We observe that was rejected at the confluence zone between the Descending Trendline and the Resistance Zone.
.
🔸 If it breaks to the upside then the bullish scenario would be active, and the target of the move is the Resistance Zone. And, if price continues to the downside, then it has potential to reach the Support Zone.
.
🔸 Will look for lower timeframe setup.
🔸 DAILY CHART ANALYSIS: