This chart forms part of a larger research note. None of the information posted here (TV) should be considered financial advice.
ARI has started to retreat from the major supply zone of 18000c-19200c. The recent consolidation top has been broken with the price below the 8-day EMA. Also noticeable is the price (17232c) currently extended well above the 50-day EMA (14983c). I’m expecting a moving back to the pivot (P) 15642c, followed by 15000c. Caution, time for a further pullback and consolidation on this name.
ARI has started to retreat from the major supply zone of 18000c-19200c. The recent consolidation top has been broken with the price below the 8-day EMA. Also noticeable is the price (17232c) currently extended well above the 50-day EMA (14983c). I’m expecting a moving back to the pivot (P) 15642c, followed by 15000c. Caution, time for a further pullback and consolidation on this name.