We have finally reached the big yellow box that I have been mentioning since June´21 (see related ideas), and had a nice bounce from it (and .83 support).
I´ve cleaned the chart up and went back to the weekly to have a better view of what´s going on.
The conditions to consider the expanding triangle finished have been met, but we´re still inside a falling channel, so we would need some more confirmation. There´s definitely the possibility that the yellow box will be tested again, even making fresh new lows.
A break of the upper channel trendline would lead us to a test of .87 resistance (green arrow)
I´ve cleaned the chart up and went back to the weekly to have a better view of what´s going on.
The conditions to consider the expanding triangle finished have been met, but we´re still inside a falling channel, so we would need some more confirmation. There´s definitely the possibility that the yellow box will be tested again, even making fresh new lows.
A break of the upper channel trendline would lead us to a test of .87 resistance (green arrow)
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