A megaphone formation within the rising wedge which i have been showing for quite sometime. Both bearish formations.Coiling taking place with the larger extremes being 1296-1271 and the smaller extremes contained within 1292-1281.A breakout from the smaller range will find support / resistance at the larger range.
If the megaphone support lines give way then should find support on the support line of the rising wedge at 1260.
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