Today the Black Cat Trader is analyzing MINA based on a Daily chart.
What we can see :
- MINA is still trading under the downtrend line (yellow) and prices are stuck into a compression triangle. - Note that prices are stuck under the EMA21. - The Bollinger bands are tightened and horizontally frame the price for 1 month now. - MACD is totally neutral
We are clearly in an accumulation mode right now.
What we can expect :
If prices manage to break the downtrend line, wait a pullback on the new support to take position. Note that, according to the Fib circles, we can expect an event by the end of November.
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Resistance 1 : Downtrend line / Top of triangle Resistance 2 : Upper band of the BB ——
Support 1 : Bottom of triangle Support 2 : Lower band of the BB