Price is stuck in a triangle since this year. It is making lower highs and higher lows, what will be next?
First big and clear rejection was at 0.382-fib retracement of the top from 2013 untill the low of 2015. It is likely that it will make a double top there and go down. OR another scenario is a double bottom and then go UP!
Untill now the horizontal support is holding well. So is the downtrendline and the uptrendline also.. Best to be neutral here untill we see a clear breakout.
First big and clear rejection was at 0.382-fib retracement of the top from 2013 untill the low of 2015. It is likely that it will make a double top there and go down. OR another scenario is a double bottom and then go UP!
Untill now the horizontal support is holding well. So is the downtrendline and the uptrendline also.. Best to be neutral here untill we see a clear breakout.
