Many scenarios can play out here.
These trend lines were not obvious but there is confluence right back to the current low. The rising trend line has been respected on many occasions and mostly to the upside.
I think this means that if it starts to be respected to the downside, then this will hold.
The same goes for the descending trend line that is seen so many times in other charts.
These trend lines were not obvious but there is confluence right back to the current low. The rising trend line has been respected on many occasions and mostly to the upside.
I think this means that if it starts to be respected to the downside, then this will hold.
The same goes for the descending trend line that is seen so many times in other charts.