It certainly does not have to go a lower low. But based on the chart pattern every symmetrical triangle in this downtrend has been followed by a decline in price. If you notice this fractals in play as the triangles diminish in size so do the drops. I expect a sizable jump on the 430-420 range as it tests the long time support. The other option would be for a double bottom at 370 in the form of bull wick and a quick turn around in the 430 levels.
What do you think?
What do you think?
Bình luận:
I wasn't expecting this to break upwards out of the triangle but I am still holding to the idea that we might see a lower low. The price might go as high as 530 and reassume downtrend