Here is what I see going on with Jasmy:
1) The green zone of support has held which is a good thing. When we broke above it to the upside in the past and retested it, we had a 200% move to the upside. With that being said, even if we see half of that it could very well move us to 3.5 cents around where the .618 fib lies
2) The bullish rsi divergence on the 4hourly is playing out. This with the combination of the zone of support is a great thing in my opnion.
3) The EMA ribbon is flipping green, another good sign.
4) We are currently encountering some strong resistance on the 4 hourly, coming from the ichimoku cloud as well as the 200 ema. We have held pretty steady at the 200 ema so we could break it to the upside soon.
5) The ichimoku cloud is relatively wide here so it could put up a fight. The ichimoku cloud on the 4hr is also lining up with the red EMA spread on the daily, which isnt great considering we are trading below it right now.
6) I have outlined both bullish (1) and bearish (2) scenarios I could see playing out.
This is not financial advice and as always do your own research before entering the market.
1) The green zone of support has held which is a good thing. When we broke above it to the upside in the past and retested it, we had a 200% move to the upside. With that being said, even if we see half of that it could very well move us to 3.5 cents around where the .618 fib lies
2) The bullish rsi divergence on the 4hourly is playing out. This with the combination of the zone of support is a great thing in my opnion.
3) The EMA ribbon is flipping green, another good sign.
4) We are currently encountering some strong resistance on the 4 hourly, coming from the ichimoku cloud as well as the 200 ema. We have held pretty steady at the 200 ema so we could break it to the upside soon.
5) The ichimoku cloud is relatively wide here so it could put up a fight. The ichimoku cloud on the 4hr is also lining up with the red EMA spread on the daily, which isnt great considering we are trading below it right now.
6) I have outlined both bullish (1) and bearish (2) scenarios I could see playing out.
This is not financial advice and as always do your own research before entering the market.