The neat formation on top of a giant channel
Price weakness of a couple of rising wedges and a 2-day struggle have given us in fact a stronger formation - a diamond with a neat false break via the top right-hand side. We believe that all above the channel has been painted by now and the descending continuation is on the agenda. Around 44800 you can surely re-group and add up on to your short positions. Alternatively, the possible price return above the channel might temporarily suspend this scenario.