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Good evening, traders.
Well yesterday I was worried that our persistent seller in that gap above us was going to cause our ascending triangle to fail, and that’s sure enough what this looks like now:
That sure looks like a failed bullish structure to me.
From here, if bears can keep things up, I would like to see something like this:
What the bulls will need to do is give us an enormous rally, back up into and then through that gap that’s been left open above us. I can’t rule that out until we go a lot lower, so I will remain open to it as a possibility! But so far it doesn’t look so good!
I hope everyone has a lovely evening.
Parts of this article may be reserved for members. You may learn more about becoming a member on the Join page.
You are also warmly invited to join our growing community in the Discord server (there are many public features in there). The invite link is here: https://discord.gg/58FSjcDhvG.