Strong breakout of triangle formation, more downside expected
Expecting price to move more downwards within the bigger falling wedge of the weekly channel (purple).
Nota
Consolidation. More downside ahead with strong resistance above at fib 0.382 correlating nicely with the lower leg of the triangle above.
Nota
Long term perspective. First interesting zone on above chart is 11.50-11.10, which is the fib 1.1618 (golden mean) and possible end of wave 3 on my proposed impulsive wave pattern.
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