12/28/20 1d TF
**Bearish price action for the next few days and hopefully 50ema/channel bottom or 38.29 support holds up to selling pressure. Wait for confirmation, either a bounce or consolidation around key areas.
**If price action does not break middle channel going up, we might be in for a downtrend or consolidation phase.
1. Price action hit target 1 and bounced down.
2. Price could continue down to buy zone and hopefully 50ema and bottom channel will hold; if not, there is 38.29 that could be a strong support (triple bottom).
3. MACD showing bearish signal confirming price action going down more.
4. Stochastics - open pointing down
Disclaimer
I do not know how the market will move tomorrow. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for practice, informational and entrainment purposes only as I am not a registered investment advisor and do not offer investment advice and recommendation. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
**Bearish price action for the next few days and hopefully 50ema/channel bottom or 38.29 support holds up to selling pressure. Wait for confirmation, either a bounce or consolidation around key areas.
**If price action does not break middle channel going up, we might be in for a downtrend or consolidation phase.
1. Price action hit target 1 and bounced down.
2. Price could continue down to buy zone and hopefully 50ema and bottom channel will hold; if not, there is 38.29 that could be a strong support (triple bottom).
3. MACD showing bearish signal confirming price action going down more.
4. Stochastics - open pointing down
Disclaimer
I do not know how the market will move tomorrow. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for practice, informational and entrainment purposes only as I am not a registered investment advisor and do not offer investment advice and recommendation. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.