Good day chaps!
I'v been keeping a close eye on NEBL recently as it's been approaching the peak of the previous high (around 15500).
We can see some strong resistance as it continuously bangs it's head against against the 15500 mark.
The RSI is screaming divergence at this stage, so I hold little hope for a breakout without some relentless buying volume.
I can't draw any clear trend lines due to the wicks being all over the place, but following the pattern from previous bounces, I would expect a slap back down before making any further moves higher.
That's all for now. Cheers!
---
Getting my feet wet with TA, so I'm open to criticism and willing to listen to any advice from the more seasoned out there.
In the words of Carter Thomas "None of this is professional advice, just a random dude on the internet giving his opinion" :D
I'v been keeping a close eye on NEBL recently as it's been approaching the peak of the previous high (around 15500).
We can see some strong resistance as it continuously bangs it's head against against the 15500 mark.
The RSI is screaming divergence at this stage, so I hold little hope for a breakout without some relentless buying volume.
I can't draw any clear trend lines due to the wicks being all over the place, but following the pattern from previous bounces, I would expect a slap back down before making any further moves higher.
That's all for now. Cheers!
---
Getting my feet wet with TA, so I'm open to criticism and willing to listen to any advice from the more seasoned out there.
In the words of Carter Thomas "None of this is professional advice, just a random dude on the internet giving his opinion" :D