Panjang

OPCOM IN ABC FORMATION

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From a swing low at 0.505 on 3 September 2021 (Point A) to a swing high at 1.790 on 12 October 2021 (Point B, also the 52-week high), the price retraced to a low of 0.905 on 29 November 2021 and consolidated for a month EMA100 acting as support. Today, 28 December 2021, EMA20 has caught up and supported the price approaching to fibo618. To enter a trade , the probable EP is 0.955 to retest EMA20 and a monthly pivot point acting as support and the probable TP would be fibo382 just below R2 and a monthly resistance. The probable CL is tight at 0.895 just below Point C because a fall below Point C could lead to a further retracement to fibo7986 and EMA20.

Penafian

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