- Trip reversed from resistance area
- Likely to fall to support level 16.80
Trip recently reversed down from the resistance area between the round resistance level 20.00, upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from April.
The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Bearish Engulfing.
Given the bearish divergence on the overbought daily Stochastic, Trip can be expected to fall to the next support level 16.80 (which has been reversing the price in the last few weeks).
- Likely to fall to support level 16.80
Trip recently reversed down from the resistance area between the round resistance level 20.00, upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from April.
The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Bearish Engulfing.
Given the bearish divergence on the overbought daily Stochastic, Trip can be expected to fall to the next support level 16.80 (which has been reversing the price in the last few weeks).
By the FxPro Analyst Team
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.