Hi, today we are going to talk about CTL
We observe a D1, some important points. The details are highlighted above.
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CTL has formed a weekly swing low failure and has also formed weekly bullish divergence. These are generally strong indications of a reversal, More so since they are showing on a weekly time frame.
Moving average guide (All Weekly for this post):
50 weekly moving average in Green.
100 weekly moving average in Yellow.
200 weekly moving average in Red.
Price made a strong bounce off its daily ascending trendline, & price was showing a lot of pressure to support, showing that a strong move was to come. Now since price broke the counter trendline & is breaking back above resistance now, I will wait for a 4 hour candle close above this zone & a retest to the 61.8 fib level is where I will look to set my entry.....
Watching for a breakout of the Ctl & resistance for potential longs. Price showing a bullish reaction at 132.000 weekly support, moving away violently & failed to break daily support 133.100 on the daily 5 times now. I can see this pair potentially reversing back to the upside