My overall prediction is still sell. BUT I do expect some sort of retracement at least to 38.2 fib level (55.44) or possibly higher. Bears maybe trying to trap enough sellers before making a retracement so I am being patient waiting for a valid trade setup.
Price is currently consolidating around support zone 51.48 at the moment. BUT price is below middle bollinger band on the weekly time frame indicating strong resistance. So after a retracement I think price will continue the downside trend towards support zone 42.30
I will not be looking for long term buy opportunities until price breaks resistance 64.16 & shows bullish momentum. Just my thoughts.
Price is currently consolidating around support zone 51.48 at the moment. BUT price is below middle bollinger band on the weekly time frame indicating strong resistance. So after a retracement I think price will continue the downside trend towards support zone 42.30
I will not be looking for long term buy opportunities until price breaks resistance 64.16 & shows bullish momentum. Just my thoughts.
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Publications connexes
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.