For educational purpose, it is still early without clear evident to tell which side will win the game. If the price were forcefully pushed below 0.19 with above average volume, Bear will control the playing field and most likely to see increasing downside momentum to push price further downward.
Comment:
Academically speaking it is called Adam and Eve top bearish chart reversal formation and high possibility that bear will overpower the bull. As a trader we cannot form our own opinion as our opinion cannot affect the market movement and it is the actual market movement that will determine which side will win the game. We cannot fortune telling it will push below the bearish zone 0.19 or not as time will tell nothing but the truth.
Comment:
For educational purposes we have speculated that it will form a technical chart pattern knows as Adam and Eve with bearish formation. As a normal person we cannot confirm the formation will be formed or not so at this point we have to know in advance in what way the formation will be considered failed. Instead of breaking down below 0.19 but pushed above around 0.22 the bearish formation should be invalidated but possibility highly unlikely as the glove sector has been downgraded by JP Morgan.
