Just like what we had predicted 20 days ago, price indeed move down to touch the trend line. The bottom of the channel is confluence to a previously resistance area, now support zone most importantly it is at 50% retracement level.
RSI is near over sold zone indicating a buying signal!
So there is a buying opportunity soon with high probability of moving up in the channel, if the price stands firm on the trend line without tempting to break, wait for a reversal candle with strong bullish confirmation candle or multi reversal candle pattern to confirm before entering.
Price is projected to move up as same as the previous impulse move, near 127%.
RSI is near over sold zone indicating a buying signal!
So there is a buying opportunity soon with high probability of moving up in the channel, if the price stands firm on the trend line without tempting to break, wait for a reversal candle with strong bullish confirmation candle or multi reversal candle pattern to confirm before entering.
Price is projected to move up as same as the previous impulse move, near 127%.
