Long
MOF back in a flag formation - needs to break above the 50 EMA
MOF is back carving out another flag/pennant/banner formation.
However.
Previously the price was above the 50 EMA and used this to drive higher.
Currently the price is below the 50 EMA but above the significant line of support at .00149 and the mid pivot and we will probably see the price squeezed between the EMA and this line of support before we break out either north or south.
If the price cannot rise above the 50 EMA then this flag might break to the south but as there is still BULLISH momentum with Molecular Future, the chances are the price will take out the 50 EMA and move higher towards the
next line of resistance at .00165.
However.
Previously the price was above the 50 EMA and used this to drive higher.
Currently the price is below the 50 EMA but above the significant line of support at .00149 and the mid pivot and we will probably see the price squeezed between the EMA and this line of support before we break out either north or south.
If the price cannot rise above the 50 EMA then this flag might break to the south but as there is still BULLISH momentum with Molecular Future, the chances are the price will take out the 50 EMA and move higher towards the
next line of resistance at .00165.
Trade active
As can be seen the downward pressue of the 50 EMA was too much for MOF BULLS and the price crashed through the support at .00149 and the BEARS are in full control. We're at WS1 pivot support now (9:16 6/4/22) and this may hold up the sellers but if WS1 goes then assume we're headed to much lower ground.
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