In my last FTM post I discussed the falling wedge pattern drawn on the chart. My expectation was that FTM would continue to trade within this pattern. A couple days later we can safely say that the market conditions have deteriorated significantly after Powell's speech.
FTM has broken through the wedge's support and is currently in the process of retesting the support as resistance, a classically bearish happening.
In my view, it's highly likely that FTM will keep on falling. I'm looking at the two blue lines as initial targets.
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.