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The price is at two important levels at the same time: horizontal support and trendline support. Breaking through the two levels is a good opportunity to go short. A possible rejection can happen, though. But I think it more likely to be a breakout considering that the price has retested the trend line just recently and Stochastic shows a bearish divergence....
The price is at two important levels at the same time: horizontal support, trendline support. Breaking through the two levels is a good opportunity to go short. On the other hand, we can go long in case of a rejection. I think it more likely to be a breakout considering the previous long consolidation period which can indicate the weakening of the overall trend....
The price is at a support level and formed an inverted hammer which can indicate a possible reverse. Also, Stochastic shows a bullish divergence . Good luck, :)
The price failed at closing above the resistance level and formed an evening star candlestick pattern. Also, RSI shows a bearish divergence. It may be a good opportunity to go short. Good luck, :)
Reversal or retracement? I can't tell. It is still not obvious. The only thing that can confirm to me the change of the trend direction is breaking the last support level. If that happens, we can ride a very big down move. In the long term, I expect this scenario. The another one is a little push up till the recent resistance level. In the big picture, notice...
The price failed at closing above the resistance level and formed a bearish engulfing candle & a double tops pattern which indicate a down move. Also, RSI shows a bearish divergence and A/D shows shows a distribution reading. All indicate a good opportunity to short. The first target can be the recent support at 1.22400.
The price formed a morning star at a daily support level + 38% fib level confluence with oversold on Stochastic and accumulation reading. Good luck :)
The price is at interesting levels that make it a good opportunity to long: - Daily support level. - 50% Fib retracement of the latest up move. - Resistance of the down retracement channel. - Oversold on Stochastic. Breaking up through the down channel may indicate the ending of the retracement. So, it will be the good time to long. Good luck.