Trading slightly below the lower band of the long term uptrend (Purple line) and the shorter term downtrend resistance line (Red line). Since, there is no major break-down (with good volume) of the uptrend, view remains neutral.Likely to see a rally given its oversold conditions.
Immediate resistance level is 1.94. Key level to note is $2.02 (Resistance formed by 2 prior peaks and a gap-down). Failure to break above the resistance level might present a good opportunity to short.
No comments:
Post a Comment