Chart Request-
$DYM has formed a symmetrical triangle and recently broke below the lower trendline. Currently, it has retraced to test the 1st horizontal support, and the price is consolidating in this area. Simultaneously, the previously supportive trendline has now turned into a resistance line.
$DYM is currently forming an ascending broadening wedge pattern. The price is currently retracing and testing the 1st horizontal support. Notably, the previous lower trendline, which is now acting as resistance, is forming the upper boundary of this wedge.
As of now, the price is consolidating between the resistance provided by the upper trendline and the support at the 1st horizontal level, creating a potential trading opportunity. If the price successfully breaks out above the upper trendline, it may signal a bullish momentum. Conversely, a breakdown below the 1st horizontal support, after a retest confirming it as resistance, could indicate bearish momentum.
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