Bearish triangle on 1 H chart
Hello traders,
-As you see we have a bearish triangle on the 1 H chart, a break down the support line-level could accelerate the drop, however, we still see rejection from the 40 $ level.
-Possible support levels are highlighted on the 1 H chart.
- the 1 D chart shows a deceleration when the price approached the gap level of 41.6 $, Confirmed by the MACD indicator.
-A Fibonacci retracement gives us possible retracement levels on the daily chart.
-Any break above the 41.6 $ level could take the price higher to 48-49 $ levels, I don't see this coming as this level was rejected several times.
Your comments are welcome.
-As you see we have a bearish triangle on the 1 H chart, a break down the support line-level could accelerate the drop, however, we still see rejection from the 40 $ level.
-Possible support levels are highlighted on the 1 H chart.
- the 1 D chart shows a deceleration when the price approached the gap level of 41.6 $, Confirmed by the MACD indicator.
-A Fibonacci retracement gives us possible retracement levels on the daily chart.
-Any break above the 41.6 $ level could take the price higher to 48-49 $ levels, I don't see this coming as this level was rejected several times.
Your comments are welcome.
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