The price bounced from 140.00 resistance level and moved down to one of the possible support zones. The market started correction, and it will give us exciting buy opportunities.
RSI confirmed the price reversal in the overbought zone. MACD lines and histogram confirm the downward movement. DMI is bullish and ADX tells us about the trend market conditions, but the line falls. It tells us about the correction movement in the uptrend structure.
The market will be able to reach the 1st support zone between SMA200, SMA50, the local uptrend line, and 100.00 support level. Price reversals here will be good for buying. If the price breaks this support, the 2nd one will be between SMA100 and the main uptrend line. Price reversals from this zone will give us better buy signals with good space for the upward movement.
P.S. If you want to become a professional trader and succeed in the financial markets, you should read these 3 articles:
They will help you to move in the right direction and protect your capital.
I will be grateful if you support my work by your LIKEs.
90% of Traders Lose Their Money! Do You Really Want to Succeed?
The Key Elements to Succeed in The Financial Markets
WHEN CAN YOU START TRADING FOR A LIVING?
RSI confirmed the price reversal in the overbought zone. MACD lines and histogram confirm the downward movement. DMI is bullish and ADX tells us about the trend market conditions, but the line falls. It tells us about the correction movement in the uptrend structure.
The market will be able to reach the 1st support zone between SMA200, SMA50, the local uptrend line, and 100.00 support level. Price reversals here will be good for buying. If the price breaks this support, the 2nd one will be between SMA100 and the main uptrend line. Price reversals from this zone will give us better buy signals with good space for the upward movement.
P.S. If you want to become a professional trader and succeed in the financial markets, you should read these 3 articles:
They will help you to move in the right direction and protect your capital.
I will be grateful if you support my work by your LIKEs.
90% of Traders Lose Their Money! Do You Really Want to Succeed?
The Key Elements to Succeed in The Financial Markets
WHEN CAN YOU START TRADING FOR A LIVING?
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