Hello friends. Today we saw a small correction which put us back into the ascending triangle; while a week ago we broke out of this pattern and were on the go to $5750 which would also correspond with fib level 1.618. I believe this could be the final shakeout and we can go as low as $3600, and retest the up-trending channel. My realistic prediction for this week is that we can retest previous ATH at $4200, where 50 EMA can provide support, and bounce back up. The market is still very strong despite the noise, and the RSI remains below overbought line. Hope this help, and thanks for reading.
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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.