Weekly chart:
After the price formed a new low at $ 28.73, it went back into its red correction zone and exhausted it completely up to the upper end at $ 34.78. Now a new movement seems to be beginning in order to continue the trend.
Daily chart:
In the daily chart, too, we can see a very young downtrend, with a correction zone between $ 32.67 and $ 34.16. After the last point two at $ 31.72, the price corrected only slightly, but is now apparently proceeding with its trend once more. With a stop at $ 34.16, one could speculate on the continuation of this trend.
Hourly chart:
In the hourly chart, the trend has already advanced and is currently struggling with the last point two at $ 32.01. With a closing price beneath this marker, the likelihood of a trend continuation increases. The downward potential is still pretty large with this value.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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