LTCUSD Approaching Resistance, Potential Reversal
LTCUSD is approaching our first resistance at 36.70 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where a strong drop might occur below this level pushing price down to our major support at 32.62 (61.8% Fibonacci extension, horizontal swing low support). Stochastic (89, 5, 3) is approaching our resistance and we might see a corresponding drop in price.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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