From left to right look (Two Red Arrows) The price broke the resistance level ¿Resistance Becomes Support?
But then the erratic price behavior and volatility, causes that idea be canceled and the stop loss be executed (Question mark in Yellow?)
Between 2017-01-02 and 2017-10-16, the price take shape of (A Flag Pattern)
The resistance line of this flag was broke with an overnight Gap (Red Circle)
The gap is not visible from the weekly chart, but is equals to a big green weekly candlestick (Red Circle)
Finally and continuing with the erratic price behavior in 2018-02-05 (Red Arrow) a bullish candlestick pattern
(Long Lower shadow + Big green candlestick) that retest the new support around 37.70
And this time it is confirmed, Resistance Becomes Support.
End
But then the erratic price behavior and volatility, causes that idea be canceled and the stop loss be executed (Question mark in Yellow?)
Between 2017-01-02 and 2017-10-16, the price take shape of (A Flag Pattern)
The resistance line of this flag was broke with an overnight Gap (Red Circle)
The gap is not visible from the weekly chart, but is equals to a big green weekly candlestick (Red Circle)
Finally and continuing with the erratic price behavior in 2018-02-05 (Red Arrow) a bullish candlestick pattern
(Long Lower shadow + Big green candlestick) that retest the new support around 37.70
And this time it is confirmed, Resistance Becomes Support.
End