Short

ZRX Descending Triangle

Updated

ZRX has a clear descending triangle . The one hour chart shows several key bearish candlestick patters, most recently a hanging man candle stick. There is resistance around 0.36, however looking on the day chart, the RSI is completely maxed out around 80 at the time of writing this. It is certainly possible we retest the 0.50 cent area, on the 1 week chart there is major resistance around 0.55 cents.

Please do not trade based on this information. What do you guys think about ZRX?

Thanks,
- Max K.

Comment

Looking again at the day chart, we are approaching the downward channel that is visible in my last long analysis on ZRX, this will be a point of support for the bulls, this is around 0.30 cents.

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