I haven't posted on XVG lately because there's no clear path until it finds a bottom. I thought it had found it's bottom around 720 but it has continued to drop.
We currently have support at 639 but it's weak. If we break through 639 we could drop as low as 508 where we have much stronger support. My hunch is that it doesn't go that low.
If we break out on the upside of the current short term wedge shown above we could test resistance at 825.
Right now I have no clear indication where we're going in the short term. Long term, I'm still bullish.
We currently have support at 639 but it's weak. If we break through 639 we could drop as low as 508 where we have much stronger support. My hunch is that it doesn't go that low.
If we break out on the upside of the current short term wedge shown above we could test resistance at 825.
Right now I have no clear indication where we're going in the short term. Long term, I'm still bullish.