NEO Trading Opportunity
The price is going to move downward for short term. RSI reverses in the overbought zone and it confirms price reversal. The support zone is formed by the uptrend line and 40.50 and 38 levels. This zone is a good place for buying. Long trades must be opened based on a confirmed reversal signal. If the market drops below 38.00 level, we'll see further downward movement to 30.00 support level. It will be a new buy opportunity. As this market has good potential for upward movement in long run, we can open long trades without stop orders. Just the main thing is, you must not use marging trading.
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.