Although we posted a Bearish Outside candle on Thursday the 20th of July, a pattern that often indicates the end of a bullish trend and the start of a new downward bias, we look for further losses to be limited.
We are assessed as being within the corrective BC leg of a large Bat formation. This bearish pattern will not be completed until $2,044. A common retracement level for this leg is 38.2% of the last rally. This support zone is located at $1951. We have bespoke support located at $1950.
The intraday chart highlights $1951 as the completion of a bullish BAT formation.
Conclusion: although there is scope for further losses, we look for the downside to be limited with a confluence area located between $1951 and $1950
We are assessed as being within the corrective BC leg of a large Bat formation. This bearish pattern will not be completed until $2,044. A common retracement level for this leg is 38.2% of the last rally. This support zone is located at $1951. We have bespoke support located at $1950.
The intraday chart highlights $1951 as the completion of a bullish BAT formation.
Conclusion: although there is scope for further losses, we look for the downside to be limited with a confluence area located between $1951 and $1950
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.