NEM. Consolidation on the downtrend.In our previous review of NEM, we assumed a decline from $ 0.75 to $ 0.35 and a return to $ 0.75 from below.
The first part executed perfectly: the fall happened and reached exactly $ 0.35
But the subsequent rebound reached only $ 0.65.
Well, maybe that's all the buyers can offer.
A move to $ 0.75 is still possible, however we do not recommend waiting for it while in the purchase.
The game of bounces does not mean procrastination: there is profit and a hitch rebound - close and rejoice in success.
Technically, the picture of XEMUSD in recent days is a consolidation on a falling trend
Therefore, the most promising strategy in terms of financial profitability is to open positions for sale at take-offs and close positions at support levels fixing the profit.
At the moment, a good range for sale is $ 0.65-0.75
For repurchase of short positions: $ 0.3- $ 0.4
With confident fall from $ 0.35 down, the next support level is at about $ 0.2
We wish you profitable deals and follow our reviews!
