The trend that I identified in my last CCTL post has since discontinued and has invalidated the idea. This is just an update on where we are now. I am big on fundamentals so you will notice that I'm going long on this idea. This is just me though, so trade accordingly and keep your own goals and strategies in mind with any investments. I am NOT a financial advisor and this is NOT financial advice.
As we can see we have started to see a healthy correction in the price after out big upswing ( this isn't bad ). We have a clear trend line up but today is the day where we will find out if we go up, consolidate or drop down to our support. I have mapped out the resistance line in red, the trend line we hope to hold in white and we have multiple MA lines in various colors. RSI is on the bottom and it could be lower so we'll see how this plays out.
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As we can see we have started to see a healthy correction in the price after out big upswing ( this isn't bad ). We have a clear trend line up but today is the day where we will find out if we go up, consolidate or drop down to our support. I have mapped out the resistance line in red, the trend line we hope to hold in white and we have multiple MA lines in various colors. RSI is on the bottom and it could be lower so we'll see how this plays out.
Please like, comment and follow!
Thanks