Last post: May 7th 2019. See chart.
Review: Price was showing short-term weakness and was at the daily 50 simple moving average .
Update: Since then price has shown further weakness and is approaching a strong monthly support level.
Conclusion: We need to see how price reacts to this support level. A break through support and we may see further weakness. A bounce off support and price may resume the uptrend.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Review: Price was showing short-term weakness and was at the daily 50 simple moving average .
Update: Since then price has shown further weakness and is approaching a strong monthly support level.
Conclusion: We need to see how price reacts to this support level. A break through support and we may see further weakness. A bounce off support and price may resume the uptrend.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
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Join Our Private Community
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
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.