POSSIBILITY OF UP SQUEEZE BEFORE RANGING TREND - GLYHO - 240MN
GLYHO is arriving at a very important area, pink square zone.
Probable support and resistance are marked with a green to line and a red bottom line.
For the moment the trend is clearly an uptrend one. However, the market has already tested an upper point which as resulted in a strong downward pullback. The trending blue line has been holding the price up.
Beware:
-Possibility of continuous uptrend then a pullback down from the red line.
-Other possibility is a market fear which could lead to a brief retreat to the down red support.
Other thing:
- We can see that overall the market is recovering from the pandemic effect. The blue horizontal line is marking the most relevant pivot point. This is confirming a potential area where the market is at the moment.
Probable support and resistance are marked with a green to line and a red bottom line.
For the moment the trend is clearly an uptrend one. However, the market has already tested an upper point which as resulted in a strong downward pullback. The trending blue line has been holding the price up.
Beware:
-Possibility of continuous uptrend then a pullback down from the red line.
-Other possibility is a market fear which could lead to a brief retreat to the down red support.
Other thing:
- We can see that overall the market is recovering from the pandemic effect. The blue horizontal line is marking the most relevant pivot point. This is confirming a potential area where the market is at the moment.
