$币安人生 Rejection at Resistance & Bearish Test at Support Favors Price Move Down
Short Position
Entry: 0.6600 & 0.6665
SL: 0.6891
Target1: 0.6400
Target2: 0.6200
Target3: 0.6020
$币安人生 was not able to take out the 0.6665 resistance area and is forming lower highs which implies that there is losing bullish momentum. Rejections from the resistance region imply more strength on the part of sellers, giving credence to the possibility of further downward trend movement.
The bears will maintain their dominance as long as price is below the 0.6665 mark. A breach of the existing consolidation period may lead to the move towards 0.6400…..!
#OilPriceFalls #ShutterstockFallsAfterGettyEndsMerger
Short Position
Entry: 0.6600 & 0.6665
SL: 0.6891
Target1: 0.6400
Target2: 0.6200
Target3: 0.6020
$币安人生 was not able to take out the 0.6665 resistance area and is forming lower highs which implies that there is losing bullish momentum. Rejections from the resistance region imply more strength on the part of sellers, giving credence to the possibility of further downward trend movement.
The bears will maintain their dominance as long as price is below the 0.6665 mark. A breach of the existing consolidation period may lead to the move towards 0.6400…..!
#OilPriceFalls #ShutterstockFallsAfterGettyEndsMerger