NEM (XEM) - Fractal suggests significant move soon

A lot going on in the above 1-day chart following the 80% correction since early March and oversold condition (orange columns).

Why bullish?

1) A ‘incredible buy’ condition now exists. I use good, great, and incredible conditional alerts. Incredible alludes to a signicacne upside move in the near future - look left.

2) Price action breaks out of resistance and confirms support. (Blue line)

2) Price action makes impulsive move to the upper side of the Bollinger Band - bullish.

3) Price action tests support on (2 - pink line), which is also on the golden ratio 0.618

4) Oscillators are printing higher lows just as before. Look left.

5) Perhaps the most significant bullish signal is this orange line of support and resistance. Look left. Below is the 1-day chart from 2017. Yes, that’s the same line! You can see what happened after price action confirmed support here.

6) lastly the weekly chart (bottom), Stochastic RSI crosses up 20. Following the support test of the orange line. What more needs to be said?

Good luck!

WW

1-day chart testing support in 2017

Weekly chart

Trade active

Comment:

looking excellent

Trade active:

no worries here whatsoever. On the 3-day chart below price action is on support - be patient.

Comment:

resistance on the 2-day chart appears to have broken out