Development of a diagonal triangle is possible

09.08.2021

Sharp jumps in growth, followed by the same waves of decline, left behind a trace characteristic of diagonal triangles. For this reason, the emerging situation can be represented as a wedge, which has not been fully formed yet. The final wave (v) is missing.

In this case, in the near future we will expect a decline due to the development of this wave. But it is not recommended to enter into sell trades at current prices. It is worth waiting for a decline and entering into sell trades at the first pullback.

Investment idea: sell 110.10, stop loss 110.30, take profit 108.50.