✴️ Compound Update | Looks Promising, $88 Target Next?Compound ended June on a positive note and continued growing all the way through the 4th July, then came the correction.
6 days closing red but a bounce is happening exactly at EMA300 (grey line on the chart).
The question is this, can COMPUSD resume growing or will the correction continue?
Compound moved ahead of the others, as it moved ahead the others started to follow, slowly but surely.
If the correction ends for this pair, it is likely that it will also end for the other pairs. Let's see what the chart has to say.
EMA300 is a very strong level so is normal to see a retest before additional growth can happen.
With the strong candle we have today, it is likely that this is a real move. By real I mean that there will be a follow up.
The volume is really high and this session already cancelled 4 days of red, with the total red days being 6.
I am leaning bullish based on the chart signals and we can expect additional growth but, if prices move and close daily below EMA30 or $52, the bullish signals become invalid and we would need to see more red before up.
Even with more red, the bigger picture would still be a higher high in the weeks to come.
It is looking pretty good overall.
Namaste.
