Over the past 2 weeks, we saw a very strong rebound from the selldown, but the big question is whether this is a temporary rebound or the start of a larger downtrend.
I think the key level is the yellow zone I highlighted, because if prices manage to break below it, then the downtrend is confirmed.
Currently, I expect a lot of sideways trading in between this support zone and the price swing highs, and bulls and bears battle it out to see who will emerge victorious.
Personally, I am more inclined to the bearish side.
I think the key level is the yellow zone I highlighted, because if prices manage to break below it, then the downtrend is confirmed.
Currently, I expect a lot of sideways trading in between this support zone and the price swing highs, and bulls and bears battle it out to see who will emerge victorious.
Personally, I am more inclined to the bearish side.
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Twitter: bit.ly/2DLoV6X
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Free video tutorials: wp.me/P1riws-7uH
Free trading signals: wp.me/P1riws-7E8
FB group: bit.ly/2zfCGXy
Telegram: t.me/synapsetrading
Youtube: bit.ly/2AaUK4C
Twitter: bit.ly/2DLoV6X
Free trading signals: wp.me/P1riws-7E8
FB group: bit.ly/2zfCGXy
Telegram: t.me/synapsetrading
Youtube: bit.ly/2AaUK4C
Twitter: bit.ly/2DLoV6X
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.