yesterday TRX pushed below its support line to new lows. The last few times this has occurred there has been an upturn shortly thereafter. if we look at the convergence of theses upport lines and the downward trend we can see a potential upturn in the works in the coming hours. RSI is above 50 and holding during a small consolidation. Keep your eyes peeled for a market shift here. it could push downward to the new support line but with the movements and the RSI levels I suspect that we should see some sort of an upturn even if it is a return to the previous support levels.
Comment:
With the last push down below the orange line we could see a slight change to our triangle that could delay the directional change in price by a few hours. even though it dropped initially you can see that bar went green and pushed right back up showing support for the trend line. There is still a chance for a push down to the lower support level but as we can see the RSI levels do not indicate this as an action at this time.
Comment:
While the line did dip a bit below the projections she did hit the close jump darn near on the head. Hope you all managed to make some massive profits on this one.