FX.co ★ #MA M5: Bearish Flag

The Bearish Flag pattern has been formed on #MA at M5. The lower boundary of the pattern is located at 508.90/509.66 while the upper boundary lies at 510.40/511.16. The projection of the flagpole is 645 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 508.90 is broken, the price will move further downwards.