KCS/USD - KCS Downtrend Continues. Support @ $17 🙄
The market continued to fall, making lower lows across the board in the current structure. KCS was no different and broke below the key level at $19 which has now turned into resistance.
For this reason, the next key support is found at $17. Likely for price to continue towards that level in the near future.
If we look at the indicators, MACD is bearish on the daily timeframe and did a crossover to the negative side not long ago. This means it will take some time to find a bottom and hope for a reversal. This makes $17 likely.
Volume remains flat and the RSI and OBV are making lower lows.
Hence, bias remains bearish at the time of this post and hopefully KCS can rally again from the $17 support level.
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For this reason, the next key support is found at $17. Likely for price to continue towards that level in the near future.
If we look at the indicators, MACD is bearish on the daily timeframe and did a crossover to the negative side not long ago. This means it will take some time to find a bottom and hope for a reversal. This makes $17 likely.
Volume remains flat and the RSI and OBV are making lower lows.
Hence, bias remains bearish at the time of this post and hopefully KCS can rally again from the $17 support level.
Like and follow if you liked my idea!
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