For short term, Uptrend is likely to break because: * volume is low / making LL indicating the absence of big players (institutions) therefore the trend might not get strength to proceed. * RSI is making LL, opposite to the price uptrend thus price is more likely to reverse. * The price might find a resistance at its 50 MA (EMA), which it is so close to. * The price is under both 50 MA & 200 MA indicating that it’s in downtrend. * The last 15 candles seems to made contracting consolidation indicating that high chance for reversal of the little uptrend. * Price might target to next support level at (1.1941), else the nearest resistance.
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.