The coin eventually broke the 13.55 1W Support hitting that medium term target and is now close to our 8.78. 1W eventually developed a Channel Down (RSI = 31.809, MACD = -12.044, Highs/Lows = -6.4159, B/BP = -12.9319), which despite being oversold can even extend to a 3.80 Lower Low as part of the bearish cycle completion. We will update near the end of the year...
The 1D Falling Wedge (RSI = 32.937, MACD = -0.573, Highs/Lows = -1.0165) is approaching its exhaustion point near 14.50, having already crossed the previous 15.25 Low. The 13.55 1W Support is the next obvious target, crossing of which will validate the much anticipated 1D Channel Down. We are keeping our ong term TP at 8.78.
NEOUSD has been flat for the past 5 sessions on 4H (RSI = 51.700, Highs/Lows = 0.0000, ADX = 18.006) as the 1D Falling Wedge (MACD = 0.300, B/BP = -0.1313) is consolidating before making another low (possibly at 14.500. We are still expecting a break-out and a test of the 13.55 1W Support. Our long term TP is intact at 8.78.
The 1D Triangle broke to the downside and a Channel Down has emerged (RSI = 43.625, MACD = -0.651, Highs/Lows = -0.0902, B/BP = -0.0642). The obvious technical target is the 13.55 Support, which if broken should swiftly lead to our TP = 8.78 and on a Lower Low for the Channel Down. The bearish long term trend of the 1W Channel Down (Highs/Lows = -2.4138) is still...
NEO has now exhausted the 1D Triangle's bands (MACD = -0.190, B/BP = -0.2168) as it touched the Lower High resisting line of the 1W Channel Down (RSI = 37.207, MACD = -11.878, Highs/Lows = -2.4020). A Channel Down on 1D is expected to emerge on a gradual pace and accelerated if the 13.55 support breaks. As a result we are keeping our short on NEOUSD with TP = 8.78.
NEOUSD is still under the relative neutral bias of the 1D Triangle (ADX = 12.107, Ultimate Oscillator = 49.858). This is however approaching the Lower High resisting line of the 1W Channel Down (RSI = 37.006, MACD = -11.677, Highs/Lows = -3.5196, B/BP = -13.7590). We expect a bearish rejection on that point and a new Channel Down to emerge, so we remain short with...
NEOUSD is stalling the downtrend indicated by the underlying long term bearish trend on the 1W Channel Down (RSI = 37.081, MACD = -11.565, Highs/Lows = -4.0555, B/BP = -14.5653) as a 1D Triangle (RSI = 45.534, STOCHRSI = 47.026, CCI = -19.7242, Highs/Lows = 0.0000) is supporting the price above 16.00. This is the support we are looking to cross, and a break-out is...
NEOUSD is on a descending course both on the 4H Channel Down (RSI = 44.300, MACD = -0.258) and the 1W Channel Down (RSI = 36.441, MACD = -11.531). On 1D however it is restrained by a 19.85 Resistance and the 13.55 support, which is slowly approaching. We expect a test (and most likely break-out) in the coming days. TP = 8.78.
NEO has kept the 1D Channel Down intact (MACD = -1.341, Highs/Lows = -1.9246, B/BP = -3.4425) and is now approaching the August 14th bottom at 13.55. Despite the oversold action on STOCH, STOCHRSI, Williams, the Lower Low potential extends to and even beyond 3.79. However we continue to pursuit a more moderate short target on NEOUSD (TP = 8.78).
NEO has made the Lower High (Highs/Lows = -8.5242) on the 1W Channel Down (RSI = 36.959, MACD = -11.383, B/BP = -16.0980) exactly on the Resistance limitation zone (blue curves). Remember mentioning on the previous post that any Lower High attempts will be contained by the blue curve formations below 25.00. 1D should now utilize this momentum (MACD = -0.814, CCI =...
