The price of EG has been ranging within the borders of a downtrending channel for the past few consecutive months. As it can be inferred from the current situation, the price is rejecting the lower boundary of the formed channel and forming a nice bottom. After enough confirmations have been provided, we will look forward to opening LONG positions and aiming for the upper boundary of the channel that lines up with 0.848 zone of previous support turned resistance.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.