ANC/USD - Approaching the first line of defense @ $2.2! 😲

After quite the rally, I see ANC has completed a 5 impulse-wave structure and most likely we can expect a correction in the nearby future.

Maybe an ABC.

Either way, the first line of defense is found at $2.2 which also coincides with the uptrend trendline.

If it holds then ANC stands to test the $3 resistance, but looking at the current market, I have my doubts ANC can push higher in such a market.

ANC could very well break below the local support and re-test the key levels just under $2 or even lower.

A good run for ANC, but now is time to find support.

Bias is bearish in the short term. Stay safe.

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