Rather neutral market structure on the weekly timeframe so let's take a look at the daily. Here we can also see no real longterm trend. What we can see is a downtrend happening since the beginning of November.
I have defined two key resistance areas where the first one is also a key psychological area at $3. As you can see by my many arrows there are more than enough S/R contact points on both levels (my sincere apologies for the arrow overload).
In terms of candlestick we have a three white soldiers pattern with strong bodies forming.
If we can break the trendline, I'll be looking to enter with a conservative target around $3 and a more aggressive target at $4.
How are you feeling about this?
I have defined two key resistance areas where the first one is also a key psychological area at $3. As you can see by my many arrows there are more than enough S/R contact points on both levels (my sincere apologies for the arrow overload).
In terms of candlestick we have a three white soldiers pattern with strong bodies forming.
If we can break the trendline, I'll be looking to enter with a conservative target around $3 and a more aggressive target at $4.
How are you feeling about this?
