Price was in a downtrend on hourly time frame, however the double bottom reversal pattern coupled with bullish RSI divergence and break of descending trendline suggests that bulls are assuming control of the price action. If previous lower high is broken with good volume then a reversal is on the cards as per Dow theory. Targets are mentioned on the chart.
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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.