Nu Crossroads
Updated
Nu has returned to its previous descending channel after falling to .35
It has found a support at .50 at the moment, and is at a crossroads. A drop below .40 will favor the descending channel, while a rise to .60+ will favor the new rising channel.
If it favors the new channel, expect price ranges along that channel.
It has found a support at .50 at the moment, and is at a crossroads. A drop below .40 will favor the descending channel, while a rise to .60+ will favor the new rising channel.
If it favors the new channel, expect price ranges along that channel.
Note
Symmetrical wedge price consolidation at .54 is signalling a potential bullish breakout continuation.Note
Wedge is starting to look more like another descending triangle. A dip at this point at the end of this potential descending triangle is still within range of both channel directions - so this is still a developing process.Note
If this d. triangle pattern continues, price will drop to the .40-.42 range. Anything lower might send it eventually back to .35Price desperately needs to get to at least .57 or .58 to signal an exit from this descending channel
Note
Nu appears to bounce of the bottom ascending channel. If it can maintain this position, we could see a consistent overall rise through May.Note
Another descending triangle forming. Could signal another price drop returning it to .35
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