๐FIL has been printing a series of progressively weaker bearish impulses, first a big drop, then a smaller one, and now a flat one.
This loss of bearish strength is happening while price is hovering above a major demand zone (orange), a level that previously triggered a massive rally.
๐๐Notice how the bearish swings are curving and flattening (dotted pink curve). This is often an early sign that sellers are exhausting.
โ๏ธAs long as FIL remains above the demand zone, we will be looking for bullish reversal setups, especially if price retests the orange zone one more time and rejects it.
๐นFor the bulls to take over entirely, price needs to break above the blue consolidation zone, confirming a shift in momentum.
Do you think FIL is gearing up for a bigger move? Let me know below! ๐
โ ๏ธ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
๐ Stick to your trading plan regarding entries, risk, and management.
Good luck! ๐
All Strategies Are Good; If Managed Properly!
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Trade here on $FIL
