Enigma Forming Double Bottom
On the 13th of June Enigma found the bottom, hitting the low at $1.17 and rejecting the 4/1 Gann Fan trendline. On a daily chart price seem to have formed strong support at $1.3, that has been rejected multiple times, and closing price always stayed above.
Yesterday ENG/USD once again has tested this support level, and once again failed to break below. At this stage range trading could take place, as ENG also failed to break above the descending channel. Consolidation could take place between $1.3 and $1.9 levels, but only break and close above or below could shed some light on further direction.
If someone is looking for a buying opportunity, perhaps it is reasonable to wait for a $2 breakout, that should potentially trigger a rally. Prior to that, price will either consolidate or go down to 78.6% Fibs, that $1, a very strong psychological support.
Yesterday ENG/USD once again has tested this support level, and once again failed to break below. At this stage range trading could take place, as ENG also failed to break above the descending channel. Consolidation could take place between $1.3 and $1.9 levels, but only break and close above or below could shed some light on further direction.
If someone is looking for a buying opportunity, perhaps it is reasonable to wait for a $2 breakout, that should potentially trigger a rally. Prior to that, price will either consolidate or go down to 78.6% Fibs, that $1, a very strong psychological support.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。