Hi mates,
the pattern you see on this 1 hourly chart is a rising broadening wedge which rather shows bearish momentum with a downward breakout 52 % of the time, plus a partial rise within that occurs in an usual behavior.
Target shown on a 1 hour support ( green line ) which confluates perfectly with the target measures rules of this pattern ( green arrow ) .
Add to this the price trading now under the weekly level ( white line ) at 6489 $, and we get some bearishness out there .
Trade safe hommies !!
the pattern you see on this 1 hourly chart is a rising broadening wedge which rather shows bearish momentum with a downward breakout 52 % of the time, plus a partial rise within that occurs in an usual behavior.
Target shown on a 1 hour support ( green line ) which confluates perfectly with the target measures rules of this pattern ( green arrow ) .
Add to this the price trading now under the weekly level ( white line ) at 6489 $, and we get some bearishness out there .
Trade safe hommies !!