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TECHNICAL ANALYSIS:
Since the half of August the market has been following a strong descending channel, breaking and retesting an important weekly dynamic trendline support.
At the beginning of December the price got a clear trend correction perfectly matching with the 0.50% of Fibonacci Retracement.
The price reached and is actually retesting the main resistance area, the price action around this zone will be necessary to understand and confirm the next market's movement!
CONCLUSION:
The price bounced on the main dynamic trendline support just few days ago and I believe in a new uptrend after few days of consolidation.
Stay tuned for updates!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
TECHNICAL ANALYSIS:
Since the half of August the market has been following a strong descending channel, breaking and retesting an important weekly dynamic trendline support.
At the beginning of December the price got a clear trend correction perfectly matching with the 0.50% of Fibonacci Retracement.
The price reached and is actually retesting the main resistance area, the price action around this zone will be necessary to understand and confirm the next market's movement!
CONCLUSION:
The price bounced on the main dynamic trendline support just few days ago and I believe in a new uptrend after few days of consolidation.
Stay tuned for updates!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
