Looking this weekly chart, I have a strong suspicion that this could be a prolonged phase of distribution or ranging price action between the Magenta horizontal lines.
Price has been rejected from the upper parallel of the down-sloping fork. As per Andrews rules, there is a strong case now for a test of the medianline or the middle line of that green pitchfork.
Let's see how this pans out..
Price has been rejected from the upper parallel of the down-sloping fork. As per Andrews rules, there is a strong case now for a test of the medianline or the middle line of that green pitchfork.
Let's see how this pans out..