Price retraces from the support of the uptrend line.

١ أكتوبر ٢٠٢٣

It appears that sellers are losing momentum towards the support of the uptrend line. Additionally, there is a significant shrinkage in size in the last bearish candle in the trend compared to the previous candle. Additionally, price also recently found support at the $422.03 price level, and you also have additional support at the $412.26 price level. Therefore, the downside potential appears to be minimal.

Furthermore, the current pattern also forms an ascending bullish triangle. Looking for price to rebound from support and break through the neckline of the inverse head and shoulders pattern!