There is a good H&S pattern formed and the price broke the neckline as of today closing below 367.
the current downtrend could reverse towards a bullish move soon before the next dip down to 320ish.
Analysis:
At present RSI 31 which still has some more room to go down.
Fib support level for 161% of previous up move is at 357.7 at which RSI would be around 18-20 - can take this as early entry for a bullish move to 370ish
Since H&S neckline is broken, we can look towards short at around 370 to go down to 320ish.
the current downtrend could reverse towards a bullish move soon before the next dip down to 320ish.
Analysis:
At present RSI 31 which still has some more room to go down.
Fib support level for 161% of previous up move is at 357.7 at which RSI would be around 18-20 - can take this as early entry for a bullish move to 370ish
Since H&S neckline is broken, we can look towards short at around 370 to go down to 320ish.
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.