The price eventually dived back to the 74.00 Support as the previous Low was compromised. The 4H MA50 is near oversold territory (RSI = 34.019, MACD = -2.320, ADX = 29.655) and since November 10th that has always caused a +5.50% rebound at least but since 73.00 broke, that means more heavy selling to 70.00.
Notice the Inverse Head and Shoulders pattern that is being repeated inside the Channel Down since June. The past two time after the Head/ Support broke, the price made a Lower Low on the 1.236 Fibonacci, with the 1D RSI hitting also a Lower Lows Support. Every rebound to the 4H MA50 (blue), is a sell opportunity until 70.00 gets hit.
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Notice the Inverse Head and Shoulders pattern that is being repeated inside the Channel Down since June. The past two time after the Head/ Support broke, the price made a Lower Low on the 1.236 Fibonacci, with the 1D RSI hitting also a Lower Lows Support. Every rebound to the 4H MA50 (blue), is a sell opportunity until 70.00 gets hit.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
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I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.