Although we posted a Bearish Outside candle on Thursday the 20th of July, a pattern that often indicates the end of a bullish trend and the start of a new downward bias, we look for further losses to be limited.
We are assessed as being within the corrective BC leg of a large Bat formation. This bearish pattern will not be completed until $2,044. A common retracement level for this leg is 38.2% of the last rally. This support zone is located at $1951. We have bespoke support located at $1950.
The intraday chart highlights $1951 as the completion of a bullish BAT formation.
Conclusion: although there is scope for further losses, we look for the downside to be limited with a confluence area located between $1951 and $1950
We are assessed as being within the corrective BC leg of a large Bat formation. This bearish pattern will not be completed until $2,044. A common retracement level for this leg is 38.2% of the last rally. This support zone is located at $1951. We have bespoke support located at $1950.
The intraday chart highlights $1951 as the completion of a bullish BAT formation.
Conclusion: although there is scope for further losses, we look for the downside to be limited with a confluence area located between $1951 and $1950
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.