On a simple chart, the former support of $100 has now turned into resistance.
Looking at the most recent price movement, it appears that the price has formed a prospective ascending triangle, implying that buyers are entering on every dip. We received another rejection at $100 yesterday, so if you're thinking about going long, this is a high-risk trade unless we see a reclaim of $100 as support.
The first area of attention is the $80 region, which has numerous levels of confluence. We could see another move down to establish another higher low.
Range point of control + daily support + 50-day moving average The ascending trendline provides support farther down.
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☑️ Create a civil and healty discuss in the comments and share with me your thoughts
Thanks and Happy Trading!
Looking at the most recent price movement, it appears that the price has formed a prospective ascending triangle, implying that buyers are entering on every dip. We received another rejection at $100 yesterday, so if you're thinking about going long, this is a high-risk trade unless we see a reclaim of $100 as support.
The first area of attention is the $80 region, which has numerous levels of confluence. We could see another move down to establish another higher low.
Range point of control + daily support + 50-day moving average The ascending trendline provides support farther down.
<---------------------------->
☑️ Follow, Comment & Like
☑️ Create a civil and healty discuss in the comments and share with me your thoughts
Thanks and Happy Trading!