TA’s playground becoming tighter each day
TA continue to consolidate inside a triangle since we saw it reach 2.68 last May. Today’s candlestick may be another lower high and price may go back to the support level where Kumo may also help support the price. The area for the price to move is getting tighter now and we might see a break from the triangle very soon. Normally Descending triangles are considered continuation pattern after the price consolidates. Let’s see if this is true this time.
RSI or Relative Strength Index is at 54
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