For the last few weeks, risky assets were spooked by the worries of inflation. With recommendations of interest rate hikes being one of the popular ones, traders must remain firm with their beliefs and discipline. After all, it's due to the same beliefs and discipline that traders remain profitable in their trades.
Identify the structure, mark your supply and...
Still in a sideways structure with price maintaining above both EMA50 and EMA200 indicating bullish biasness. Feb 4 price action saw PELIKAN testing its developing Value Area High at 320 however failed to close above it. A daily close above 320 may see PELIKAN testing structure's Supply Zone as marked.
Traders to take note of price action in the marked Supply Zone of 114-121 with 121 being the highest daily close of EPMB in current flag pattern.
Successful flip of this zone should see EPMB testing its ATH of 131
Technical buy on downtrend line breakout, indicating price movement reversal. Histogram MACD trending higher indicating formation of bottom after sharp decline.
EP 205
TP1 240
TP2 270/275
TP3 300
CL 190
Good luck.
At the time of writing, MACD on Weekly Timeframe is sideways above zero and Signal line. A breakout with significant volume above 50c level may see DOGE retest 70c. Kindly refer chart for critical price points, resistance and support levels. Best of luck.
nfa
Currently trading below downtrendline on the daily chart and below EMA200 on the weekly chart, as of time of writing remains bullish as Brent broke the $70 mark. Monitor trendline and Support levels for possible long trading opportunities. Be extra cautious as the company is PN17 (company with financial distress).
BAKE trying to break downtrendline with pending volume. Successful breakout with volume would see immediate support level of $5.90 with major resistance at $7 mark
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