In the short term, prices are overstretched, and short-term indicators have turned down from the top end of their range. This is likely to trigger a temporary correction, given that prices formed a minor shooting star on the candlestick chart.
For the upmove to remain intact, the decline needs to stop above $2.20. Although volume has contracted during the black-candle days compared with the single shaven white-candle move, it is still quite heavy. Resistance has been established at $2.42.
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