The week is starting off with some selling interest as price drops to the top black trend line, which should remain as key support.
There is also another near-term blue-dotted trend line that intersects where buyers are likely to be found. The RSI dropped lower, but remains inside the green bullish zone going forward. As the intersection of the two trend lines holds as support, the RSI support level should hold too.
A break lower here would not be good for the bulls, but patterns show that despite the drop in price to start the week, the bulls still hold a slight control.
Thoughts?
There is also another near-term blue-dotted trend line that intersects where buyers are likely to be found. The RSI dropped lower, but remains inside the green bullish zone going forward. As the intersection of the two trend lines holds as support, the RSI support level should hold too.
A break lower here would not be good for the bulls, but patterns show that despite the drop in price to start the week, the bulls still hold a slight control.
Thoughts?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.