As the chart has chosen to move higher, we're also shifting our focus upward. However, it appears we're approaching a resistance level that triggered two major pullbacks in the past. We're also nearing the top of a parallel channel.
On the monthly timeframe, indicators have remained overbought for quite some time — a reversal may be on the horizon.
On the monthly timeframe, indicators have remained overbought for quite some time — a reversal may be on the horizon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.