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InvestingScope
Oct 10, 2018 7:34 AM

NEOUSD: Lower High made on 1W. Channel Down emerging. Short

NEO / DollarBitfinex

Description

NEO has now exhausted the 1D Triangle's bands (MACD = -0.190, B/BP = -0.2168) as it touched the Lower High resisting line of the 1W Channel Down (RSI = 37.207, MACD = -11.878, Highs/Lows = -2.4020). A Channel Down on 1D is expected to emerge on a gradual pace and accelerated if the 13.55 support breaks. As a result we are keeping our short on NEOUSD with TP = 8.78.
Comments
stranger27
Thank you! Completely agree with you as the broken channel and rising wedge on hourly chart leaves almost no chances for the bulls:
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