Bounced off 200EMA on Daily Chart
MACD Showing Divergence
Pricing Showing Lower Lows from $26.91 to $25.27,
However MACD showing same levels around -0.60 regardless of price.
Soon we may get a crossover of MACD over Signal line, indicating Bullish momentum
RSI also showing oversold at around 30.
Based on previous RSI levels and Price action, we have seen a bounce at these levels.
$30 is a key resistance level since August.
Once above $30 and consolidate around these levels, $35 can definitely be seen.
Tight Stop loss set under $23.
Good R/R Here.
MACD Showing Divergence
Pricing Showing Lower Lows from $26.91 to $25.27,
However MACD showing same levels around -0.60 regardless of price.
Soon we may get a crossover of MACD over Signal line, indicating Bullish momentum
RSI also showing oversold at around 30.
Based on previous RSI levels and Price action, we have seen a bounce at these levels.
$30 is a key resistance level since August.
Once above $30 and consolidate around these levels, $35 can definitely be seen.
Tight Stop loss set under $23.
Good R/R Here.
Trade closed: stop reached:
Stopped out. May reenter when bottom is in.