Dash Potential Movement

Updated

February gave Dash a lot of gains and a lot of pull-back toward the end of the month with March showing slight gains (compared to Feb movement) and consolidation a couple of times so far. As of now it is testing the support area around 223.5 as we approach a 17 and 9 period potential Kihon Suchi reversal area. If the support holds there are a significant amount of resistance areas to the north, particularly around 230, 245, and 270.

If the support around 223.5 does not hold and price breaks down through the Kumo, there are supports around 205 and again potentially around 196 with not much to hold it up after that until around 147.

Ichimoku indicates a bearish trend right now, with the Senko span crossing the price-line and the Tenkan/Kijun crossover.

As always, comments and ideas are welcome!

This information is not trading advice, only my personal opinion on potential market movements, and is for educational purposes only.

Note

It seems Dash is nearing the end of a triangle, it will be interesting to see what the next move is. What are your thoughts?

Note

Looks like Dash is ranging a bit prior to larger movements.

Note

I guess Dash is just going to range right through the triangle. After this consolidation is over we will see what direction it wants to go.

Doc_Deez

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