Bulls and Bears are fighting it out in a key support zone:
Bullish:
- Hammer candle may form in key support zone provided by an open gap that may not get completely closed today (may still change today)
- Support also given by uptrend line that hasn't been broken as of now (may change until close, though)
- Slight bullish divergence in price and OBV that doesn't seem to print a new lower low right now
Bearish:
- MACD and Arron Up and Down turned bearish today, which confirms a new downtrend
- Key support zone under attack, gap may still be closed today
- uptrend line is under attack
Conclusion:
A bear trap may be forming right now. However, if the hammer candle won't be confirmed by another decently large green candle tomorrow, it might be time to abandon ship here.
Bullish:
- Hammer candle may form in key support zone provided by an open gap that may not get completely closed today (may still change today)
- Support also given by uptrend line that hasn't been broken as of now (may change until close, though)
- Slight bullish divergence in price and OBV that doesn't seem to print a new lower low right now
Bearish:
- MACD and Arron Up and Down turned bearish today, which confirms a new downtrend
- Key support zone under attack, gap may still be closed today
- uptrend line is under attack
Conclusion:
A bear trap may be forming right now. However, if the hammer candle won't be confirmed by another decently large green candle tomorrow, it might be time to abandon ship here.
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.
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.