- It reached a zone which was historically a strong support.
- Big divergence pattern was formed in MACD.
- People might want to wait for a clear passing of the MACD and then buy. I prefer to buy it right now to get it at a lower price.
- RSI is very close to being oversold.
- Once the MACD breaks out, I don't believe the first Fib retracement level would hold. The second Fib level would be a good selling target, it coincides with a resistance pattern.
Peyman.
- Big divergence pattern was formed in MACD.
- People might want to wait for a clear passing of the MACD and then buy. I prefer to buy it right now to get it at a lower price.
- RSI is very close to being oversold.
- Once the MACD breaks out, I don't believe the first Fib retracement level would hold. The second Fib level would be a good selling target, it coincides with a resistance pattern.
Peyman.