“According to the price action laws, we should see a breakout of the lower line and the further decline and that is our short-term view on this instrument. “
Interestingly, pennant did not end like pennant but the LTC continued the sideways trend and finally created a flag formation (red lines). Flag ended with a bearish breakout which was expected here. The drop was additionally supported by the bounce from the long-term down trendline (blue). After that happened, almost all days on the LTC were negative.

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