Z1P - A closer look at the Falling Wedge !
What will happen in the week ahead for Z1P ? My guess is as good as yours, although I am leaning slightly to Z1P validating a counter trendline break as the money rotation slows.
The 0.618 retracement has been respected as resistance a number of times inside the falling wedge, as a result the $8.50 - $8.70 is worth watching closely. Additionally, Z1P at the longer time frame retracement (0.618) level is starting to get confluence in an oversold stoch, RSI, lower time frame MACD divergence as well which should act as strong support.
The 0.618 retracement has been respected as resistance a number of times inside the falling wedge, as a result the $8.50 - $8.70 is worth watching closely. Additionally, Z1P at the longer time frame retracement (0.618) level is starting to get confluence in an oversold stoch, RSI, lower time frame MACD divergence as well which should act as strong support.
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