COTI in a TIGHT ZONE between MONTHLY & WEEKLY levels.Weekly Resistance has been broken, And COTI tested the Monthly Level retracing back to test the weekly level. 90 percent of the time when a level is broken whether support or resistance it is tested on its pull back and most of the times it is rejected.
Here, a new support has been made for COTI, but at the same time we have tested the monthly level as well. But as i said before, the weekly resistance which was broken has become a support now and has been rejected is going to test monthly level again.
We may see some consolidation as the zone between two Levels is quite narrow.
But, the candles are respecting the trend lines, so COTI is going for a monthly level test again, if it breaks the monthly, we may be in a bullish move.
You guys can long from 320 to 370 zone, but with a tight stoploss as COTI is in consolidation. Wait for either of the levels to break.
Thanks and trade safe.
