AMC Trade setup for 14/6/2021
This trade setup is in the H1 price chart to try and eliminate the noise in the opening of trades.
AMC managed to hold both support at 40.92 and 43.70 in Thursday and Friday's session, identical with previous trading activities around the 4th and 5th of June, as indicated on the price chart above.
It is a strong indication that shorts are not able to push prices further down and could potentially be forced to get out and help an army of buyers drive prices back up.
The critical levels to watch are around 48.34, 46.58, 44.82, and 43.70. We might see prices continue up if it holds above 48.34 or pull back to test previous support indicated in the critical levels above. Keep an eye on the estimates of major levels in the solid lines.
This trade setup is in the H1 price chart to try and eliminate the noise in the opening of trades.
AMC managed to hold both support at 40.92 and 43.70 in Thursday and Friday's session, identical with previous trading activities around the 4th and 5th of June, as indicated on the price chart above.
It is a strong indication that shorts are not able to push prices further down and could potentially be forced to get out and help an army of buyers drive prices back up.
The critical levels to watch are around 48.34, 46.58, 44.82, and 43.70. We might see prices continue up if it holds above 48.34 or pull back to test previous support indicated in the critical levels above. Keep an eye on the estimates of major levels in the solid lines.
