DashUpdated 144. & 132 if
A retest of 220. on light demand would provide a good sell entry. Or a break directly under 185 on SOW.
Having to be careful and sure supply is in overweight because 185. did show some resilience in the past, which price could just also move straight upward from there.
Break upside 220. would make me aim at 245 as scalping buy area, and then look again for a sell entry around it.
Now testing support... ain't little time frame being stagnant.
As for the;
Monthly
On the first 4 months of the year, there was a lot of effort from demand that was put on making the price go higher.
Which from where price then get pushed to the upside to 280, on barely effort from demand. Which make sense from selling interest that took a break, which is probably the main reason why price got even pushed higher. From which we can see because once it reach the 292 area it start showing having barely buying presence, and more of selling that took a break this time, from price wicking the zone with a easy stop in action.
At the same area that showed important demand weakening back at the beginning of the year.
On the weekly..
Daily
Stating for now that buying interest ain't much of a presence.
No matter the direction it goes, there's many opportunities as for both side. The question is will it retrace upward before moving downside, or will it move straight downside. And as I read the volume for NOW, if it do retrace upward, unless there's a wave of buying interest emerging, it shall not retrace that much up or it will just move straight down.
Having to be careful and sure supply is in overweight because 185. did show some resilience in the past, which price could just also move straight upward from there.
Break upside 220. would make me aim at 245 as scalping buy area, and then look again for a sell entry around it.
Now testing support... ain't little time frame being stagnant.
As for the;
Monthly
On the first 4 months of the year, there was a lot of effort from demand that was put on making the price go higher.
Which from where price then get pushed to the upside to 280, on barely effort from demand. Which make sense from selling interest that took a break, which is probably the main reason why price got even pushed higher. From which we can see because once it reach the 292 area it start showing having barely buying presence, and more of selling that took a break this time, from price wicking the zone with a easy stop in action.
At the same area that showed important demand weakening back at the beginning of the year.
On the weekly..
Daily
Stating for now that buying interest ain't much of a presence.
No matter the direction it goes, there's many opportunities as for both side. The question is will it retrace upward before moving downside, or will it move straight downside. And as I read the volume for NOW, if it do retrace upward, unless there's a wave of buying interest emerging, it shall not retrace that much up or it will just move straight down.
Note
-> '' A retest of 220. on light demand would provide a good sell entry ''selling interest still in overweight. Could take tp at 185. and re-enter at break under it.
Note
broke under 185. on heavy supply. This should be in profit and stop loss should be move as well in profit. Still aiming at 144. on longer term. 132 ifTrade closed: target reached
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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.