Bounced from muti-year trend line which is also the base trend line of bullish descending wedge, which also is the 261.8% fib ext support.
The second attempt to break out of the wedge rejected again at trend line. Possible to close gap around $206.
Mixed oscillators signals. RSI and stoch recovered while Macd is narrowing to bullish cross. But accdist, momemtum, OBV and EOF are all down.
Bad case - $206 to $200
Good case - $230
Better case - $240
Best case - $270
Entry - $200 to $215 (High risk)
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
The second attempt to break out of the wedge rejected again at trend line. Possible to close gap around $206.
Mixed oscillators signals. RSI and stoch recovered while Macd is narrowing to bullish cross. But accdist, momemtum, OBV and EOF are all down.
Bad case - $206 to $200
Good case - $230
Better case - $240
Best case - $270
Entry - $200 to $215 (High risk)
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.