Green = Sell Targets
Red = Stop loss zone
If you choose to use this information as a trade opportunity I do not recommend buying in above the buy zone. Let the price come to you and be patient. Trade safe!
Due the overall market action there are many falling taking place on the .
The and RVI in conjunction signal that the price has room to fall and the could lessen as well. If the price falls then generally the will lessen which leaves room for buying pressure to move back in.
I would expect a continued drop over the next few days in price and between the 15-18th we could see the price reach it's first potential breakout point at A. The support here is reinforced by the fib level as well as psych support.
If the support labeled at A does not hold then I would expect a bounce at the next level labeled at B.
Furthermore, there could be an upcross from the Chikou span in the next 7-10 days.
Time projection for price to reach supports.
Support A: 7/14 - 7/18
Support B: 7/21 - 7/25
Targets could take up to 2 weeks to be reached after that.