NEM grew strongly in December (5 times from the minimum to the maximum)
Now, on the chart, we see a quite broad consolidation.
The point below at $ 0.75 is supported by a slow moving average and graphically this level is the visible support level
The point above, the resistance level, is more vague. For orientation, you can take the $ 1.10 mark
We see that the indicators several times went from the lower limit of the range $ 0.75 - $ 1.10 and vice versa
So the idea is not just to hold NEM, but to use the range:
buying around $ 0.75 and selling at about $ 1.10.
We do not recommend working from shorts, because the trend is growing and in case of a breakthrough from the range the probability of getting losses from a short position is more than from a long one.
Now, on the chart, we see a quite broad consolidation.
The point below at $ 0.75 is supported by a slow moving average and graphically this level is the visible support level
The point above, the resistance level, is more vague. For orientation, you can take the $ 1.10 mark
We see that the indicators several times went from the lower limit of the range $ 0.75 - $ 1.10 and vice versa
So the idea is not just to hold NEM, but to use the range:
buying around $ 0.75 and selling at about $ 1.10.
We do not recommend working from shorts, because the trend is growing and in case of a breakthrough from the range the probability of getting losses from a short position is more than from a long one.
