Bullish technical pattern.
It is contesting every fib level beautifully as you can see.
Currently there is a weak support around the 0.86 level, and this is where I expect the handle bottom to form. This cup and handle is a bullish setup. You essentially buy it when the price swings down a little
RSI is overbought. And it needs to cool down a little bit.
Buy Targets are 0.80. However, if overall market picks up heavily, then it might not go down to 0.8. Probably only 0.87
Sell targets along the fib levels.
It is contesting every fib level beautifully as you can see.
Currently there is a weak support around the 0.86 level, and this is where I expect the handle bottom to form. This cup and handle is a bullish setup. You essentially buy it when the price swings down a little
RSI is overbought. And it needs to cool down a little bit.
Buy Targets are 0.80. However, if overall market picks up heavily, then it might not go down to 0.8. Probably only 0.87
Sell targets along the fib levels.