Enbridge in a heavy support/resistance zone. Looking for <38.85
Updated
Looking for short confirmed breakdown below 38.85. Below that there is no support until around 38.22.
Indicators:
1. Double bounce off upper down trend
2. Didn't sustain rally after earnings
3. Broke bullish 4H MA down
4. Currently in a 4H downtrend and creeping on the convection point
No RSI confirmation either way, indicator is neutral.
Indicators:
1. Double bounce off upper down trend
2. Didn't sustain rally after earnings
3. Broke bullish 4H MA down
4. Currently in a 4H downtrend and creeping on the convection point
No RSI confirmation either way, indicator is neutral.
Note
Good downward move early today. We'll see if it extends.Note
Note
Confirmed break down, next target is around the 38 level.
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