If price trades below $21.90, selling is advisable. Heavy sellers dominated from $26 to $20.77.
Then buyers were able to retrace only till $23.60 - the recent high.
Price is taking a dynamic resistance of 20 EMA - which is kind of strong trend indication.
First Opposing Force for this fall can be expected around $20.25 to $19.70; further price can test $18.60 as...
I'm seeing an inverse hidden H&S and a pennant or falling wedge type pattern and they both are bullish. interesting to see if it does work out.. I'll keep it watching closely.
Reason and confluences:
this graph is experimental.
Midterm forecast:
While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI support #1 at 43 is not broken, the probability of price decrease would be too...
Midterm forecast:
While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
A...
Midterm forecast:
While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
A...
