Time Frame: Daily
Structure :
Descending Channel:
A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a falling channel or channel down. The upper line is identified first, as running along with the highs and is called the trendline.
Price Currently took support at Trend Line Support Zone
Moving Average: 150 MA :
In the daily time frame price is observed below 150MA, which indicates the short term trend is still on the bearish side
Expectation/Probability :
Price can reverse from the current support level till the 90$(Bullish) or Price Can Break the Channel Support then it may fall till 30$(Bearish)
Structure :
Descending Channel:
A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a falling channel or channel down. The upper line is identified first, as running along with the highs and is called the trendline.
Price Currently took support at Trend Line Support Zone
Moving Average: 150 MA :
In the daily time frame price is observed below 150MA, which indicates the short term trend is still on the bearish side
Expectation/Probability :
Price can reverse from the current support level till the 90$(Bullish) or Price Can Break the Channel Support then it may fall till 30$(Bearish)
Comment:
Price reversed from Support Zone 56 to 68
Comment:
Trading above Support Zone
Trade active
Trade closed manually