KNCUSD ❕ upper boundary of the channel
The KNC chart is similar to most charts right now, but with the exception that it has formed a Head and Shoulders pattern and reached the upper boundary of the downtrend channel.
Price is now testing the 100MA on the 1H Timeframe.
With the correction, trading volumes have decreased.
The Fed meeting is expected today and the rate may be increased by more than 0.5%.
I expect that the price may retest the upper boundary of the descending channel before it continues falling, but after fixing under it, it will continue to fall.
Price is now testing the 100MA on the 1H Timeframe.
With the correction, trading volumes have decreased.
The Fed meeting is expected today and the rate may be increased by more than 0.5%.
I expect that the price may retest the upper boundary of the descending channel before it continues falling, but after fixing under it, it will continue to fall.
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