# Price ranging from Macro up trending channel and reached and surpassed the previous all time high. Touched the diagonal channel resistance and formed a double top (M).
# Price broke and retested micro diagonal up trendline. (A).
# RSI: Price makes double top and RSI makes lower highs ...This is Exaugurated bearish Divergence . As we can see from previous tops, when CO2 price goes over oversold position it comes back to lower resistance line B and then moves back up .
# MACD: Histogram is down trending while macd makes Exaugurated bearish divergence.
% If price breakdown the red resistance line ( $1.62) and then the neckline of "M" , then the price target would be $1.49 which will be the place I will be entering my long position . Will be placing entry postions ranging from $149 - $1.45 for wicking. $1.49 also is the 50% FIB retracement.
# Price broke and retested micro diagonal up trendline. (A).
# RSI: Price makes double top and RSI makes lower highs ...This is Exaugurated bearish Divergence . As we can see from previous tops, when CO2 price goes over oversold position it comes back to lower resistance line B and then moves back up .
# MACD: Histogram is down trending while macd makes Exaugurated bearish divergence.
% If price breakdown the red resistance line ( $1.62) and then the neckline of "M" , then the price target would be $1.49 which will be the place I will be entering my long position . Will be placing entry postions ranging from $149 - $1.45 for wicking. $1.49 also is the 50% FIB retracement.
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