Afternoon All
After updating our previous chart on Z1P this is what we’re looking at right now:
- We’re currently at this key level of liquidity, we we’re seeing a lot of sell pressure mounting around that $8 level.
- This lines up PERFECTLY with our 50 Fibonacci level & somewhat completes the right shoulder of this huge formation
- If we’re to see this play out Z1P will be bearish from this level (thereabouts) and start moving back towards the 5.50 Demand Level, we spoke about in our previous Trading View Idea that I have linked.
- Our indicators are as follows:
o CCI is forming a bearish divergence
o RSI is forming the same
o Steamroller is looking like its firming entering Overbought and we’re looking like we’re well and truly stretched.
Looking forward to Z1P quite possibly completing this formation.
After updating our previous chart on Z1P this is what we’re looking at right now:
- We’re currently at this key level of liquidity, we we’re seeing a lot of sell pressure mounting around that $8 level.
- This lines up PERFECTLY with our 50 Fibonacci level & somewhat completes the right shoulder of this huge formation
- If we’re to see this play out Z1P will be bearish from this level (thereabouts) and start moving back towards the 5.50 Demand Level, we spoke about in our previous Trading View Idea that I have linked.
- Our indicators are as follows:
o CCI is forming a bearish divergence
o RSI is forming the same
o Steamroller is looking like its firming entering Overbought and we’re looking like we’re well and truly stretched.
Looking forward to Z1P quite possibly completing this formation.
