Price has reached a powerful area that has acted as strong support & resistance in the past. Price is forming a bearish head on shoulders formation currently finishing the right shoulder at the descending trendline & 0.786 fibonacci retracement. This week ahead, I will be watching price for a decline down towards the support zone at the bottom to complete the pattern.
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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.