Midterm forecast: While the price is above the support 0.02450, resumption of uptrend is expected. We make sure when the resistance at 0.03330 breaks. If the support at 0.02450 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is formed in daily chart at 0.03365 on 11/24/2020, so more losses to support(s) 0.02630, 0.02520 and minimum to Major Support (0.02450) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 30.
Trading suggestion: There is possibility of temporary retracement to suggested Buy Zone (0.02630 to 0.02520). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
. Beginning of entry zone (0.02630) . Ending of entry zone (0.02520)
Thank you for this chart. Do you mind sharing Gold analysis?
ForecastCity
⋅
@davidgolandak, You're welcome! We update and publish all the forecasts when there is a trading opportunity. For Gold, please check it on our page. We usually update it.