#Eos is at a critical support region
Last week's progress has been completely negated during the 1st two days only, after the 3D candle failed to close above the 10MA on sunday.
If the uptrend line at 6.75 is broken with conviction then eos can fall to the 0.786 fib(5.35) region
In the 4Hrly we can see Eos breaking below the BB middle support and hitting lower edge of BB
Now short term bullish view is possible owing to oversold indicators in 4H and lower t-fs but only If the trendlines around (6.75-7.3) hold good as support, then we can expect a pullback to 9ema in 4H (7.7) and above that the BB mid band around 8.3 level.
Last week's progress has been completely negated during the 1st two days only, after the 3D candle failed to close above the 10MA on sunday.
If the uptrend line at 6.75 is broken with conviction then eos can fall to the 0.786 fib(5.35) region
In the 4Hrly we can see Eos breaking below the BB middle support and hitting lower edge of BB
Now short term bullish view is possible owing to oversold indicators in 4H and lower t-fs but only If the trendlines around (6.75-7.3) hold good as support, then we can expect a pullback to 9ema in 4H (7.7) and above that the BB mid band around 8.3 level.
Comment:
Bullish view: we break above the 9.5 resistance with conviction and look to target 0.5fib level around 11.75
Bearish view: If we get impulsive wave failure and the trendline(red) support breaks then i will look to short eos on the retest to target the 0.786 fib region
If the uptrend line at 7 is broken with conviction then eos can fall to the 0.786 fib(5.35) region