ZIL: Bullish Momentum Expected Following Falling Wedge
💎ZIL has recently broken out of a falling wedge pattern, forming a W pattern, and is currently consolidating on a bullish Order Block (OB). This consolidation suggests a potential bullish momentum, with expectations of a move towards the next resistance zone around 0.02105.
💎Confirmation of the W pattern and a safer trading opportunity would occur upon a breakout above the 0.02105 level. Such a breakout could pave the way for further upside towards the subsequent resistance levels at 0.02328 and 0.02635.
💎Conversely, a breakdown below the support area of 0.01864 may signal a shift back to bearish sentiment. In such a scenario, we could anticipate a continuation of the downward movement in the price of ZIL.
💎Confirmation of the W pattern and a safer trading opportunity would occur upon a breakout above the 0.02105 level. Such a breakout could pave the way for further upside towards the subsequent resistance levels at 0.02328 and 0.02635.
💎Conversely, a breakdown below the support area of 0.01864 may signal a shift back to bearish sentiment. In such a scenario, we could anticipate a continuation of the downward movement in the price of ZIL.
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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.