Engtex - Need strong momentum to for bullish sentiment
Y wave, target (E) within stipulated range.
Price just crossed Kijun-sen but still below Kumo indicating the bearish sentiment, though a potential reversal may be underway.
The Chikou Span is below the price and Kumo, signaling that the bearish momentum might still be in play.
After wave (C), the price has been consolidating. The recent upward momentum could push the price toward the Y wave target at (E).
R1 - 0.660
R2 - 0.670
S1 - 0.610
S2 - 0.600
A potential breakout above 0.640 could signal bullish momentum for a move toward the Y wave target at 0.660 to 0.670.
Given the price's position relative to the Kumo and resistance levels, a cautious bullish approach can be taken if the price breaks above 0.640. However, if the price fails to hold above the Kumo, the bearish sentiment may continue.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
Price just crossed Kijun-sen but still below Kumo indicating the bearish sentiment, though a potential reversal may be underway.
The Chikou Span is below the price and Kumo, signaling that the bearish momentum might still be in play.
After wave (C), the price has been consolidating. The recent upward momentum could push the price toward the Y wave target at (E).
R1 - 0.660
R2 - 0.670
S1 - 0.610
S2 - 0.600
A potential breakout above 0.640 could signal bullish momentum for a move toward the Y wave target at 0.660 to 0.670.
Given the price's position relative to the Kumo and resistance levels, a cautious bullish approach can be taken if the price breaks above 0.640. However, if the price fails to hold above the Kumo, the bearish sentiment may continue.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
Dagangan ditutup: sasaran tercapai
Reached target
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.