Ended the game at Fibonacci 6.86 with V-TOP pattern. Price steadily moving below Fibonacci 1.618.
History repeat itself
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Wait for price to test on green support zone for better risk and reward ratio, as strong downward pressure is still on the way from Monthly chart.
RSI index at neutral.
Price at Bolinger Band Mean line.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own...
Prediction: BOX/Sideway Pending Breakout immediate R0.515 (Rally when it breaks 0.56)
Target Price: R1=0.555-0.58, R2=0.63-0.68 , R3=0.77-0.83
Support/Cut Loss: S1=0.44, S2=0.38
*Trend direction: BOX Pending Breakout - Rally when breaks immediate R0.515
*Yellow-Diamond( BT ) have appeared on 30-Oct, an indication of the bottom.
*Price breaks, stand above &...
SEE MONDAY (5/10/2020) CANDLE AND VOLUME FIRST FOR CONFIRMATION REVERSAL FROM DOWNTREND TO UPTREND.
FIRST TP 0.475
SECOND TP 0.515
THIRD TP 0.560
FOURTH TP 0.745
FIFTH TP 1.16
SIXTH TP 1.80
-It has been 7 consecutive days of lower lows for MMAG.
-Next support at 665.
-OBV at 200mil, the lowest since Sep 2019, indicating high selling pressure
-it all started with some market correction, profit taking and announcement by politician to form new government
-on positive notes, current PM already secure support from Sabah poll - so impact of politic...
MMAG key R to break is 0.525 but in order to break that, big volume is needed and its not observable now. Could it build up to break that key price and go up parabolically which repeats is extremer uptrend before?
Technically based on position of current price, 20MA, 50MA & 200MA, it looks good for further retest of next resistance at 0.37.
Furthermore slow stock just crossing up on Friday indicating daily trend reversal.