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Trend Analysis Chart Patterns Fundamental Analysis
3
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trendanalysis chartpattern fundamental
The price has dropped to the lower boundary of the channel on the daily timeframe. The price is in the oversold zone on the 1-4 hour timeframes. There is a high probability of a price rebound towards the midline of the channel and a retest of the weekly 50 EMA. The weekly 200 EMA represents the next strong support level if the downtrend continues.
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