OCEANUSD - RETESTING PREV RESISTANCE - WHAT'S NEXT?
Updated
OCEANUSD
Price found support at previous resistance, indicating more upward movement.
Reasons to be bullish
1) RSI above 55 on daily
2) MACD still showing green on daily TF
3) breaking resistance and now turned into support - best indication of bullish formation.
4) Above all MA on daily TF
5) Price consolidating at previous resistance
Recommended entry : 1.37-1.4 current support levels
Targets : USD 2.2 (1.382 fib) and USD 2.4 (1.5 fib)
Analysis will be invalidated if daily price close below 1.32.
Price found support at previous resistance, indicating more upward movement.
Reasons to be bullish
1) RSI above 55 on daily
2) MACD still showing green on daily TF
3) breaking resistance and now turned into support - best indication of bullish formation.
4) Above all MA on daily TF
5) Price consolidating at previous resistance
Recommended entry : 1.37-1.4 current support levels
Targets : USD 2.2 (1.382 fib) and USD 2.4 (1.5 fib)
Analysis will be invalidated if daily price close below 1.32.
Note
There is no change in the setup, heading to USD 2.2 in next few days as analysed
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.