Possible Right Triangle Breakout

Currently the price is oscillating between a descending resistance and bottom support that consists of the EMA 50 and Historical Support/Resistance. Pending the downward breakout there could be a bounce off the EMA200 and a retest of the EMA50/Historical Level before a drop to the blue historical level. There is a slight possibility of an upward breakout, but it does not seem likely.

Yorum:

Watching for retest of purple resistance as support, if it holds, trade open with target at 9.58