is extending a strong 1D bullish
leg ( MACD
= 0.113, Highs/Lows = 0.2976) which has entered into the overbought territory ( RSI
= 75.562). Being near the 1M (monthly) Resistance, the right conditions for a medium term short trade emerge. Even the 1D RSI
is close to a Double Top
and may follow the previous sequence of March - May 2019. Notice how the uptrend's lows are symmetrical with the downtrend's lows. Under these conditions our Target Zone is set at 2.500 - 2.450.
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