I zoomed out to the Weekly chart so you can see just how brutal the price has dropped over the last 8 weeks.
Question is, will it continue? Or is this going to be a bottom?
Answer is to wait this week out to see if price levels out or not. Obviously if price ends the week below 2.3 then we are still going down.
I'm looking for a decent close around 2.5 or 2.6. Then I will monitor price next week to see if there is a chance to break up to 3.
Remember we are heading into warmer weather soon and we have had a pretty warm winter overall so supplies are pretty full. Price may not do much for the next few months.
We shall see what happens. Stay safe.
Heiko
Question is, will it continue? Or is this going to be a bottom?
Answer is to wait this week out to see if price levels out or not. Obviously if price ends the week below 2.3 then we are still going down.
I'm looking for a decent close around 2.5 or 2.6. Then I will monitor price next week to see if there is a chance to break up to 3.
Remember we are heading into warmer weather soon and we have had a pretty warm winter overall so supplies are pretty full. Price may not do much for the next few months.
We shall see what happens. Stay safe.
Heiko
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.