The price seems to be heading towards daily support at 12.36-12.66. It fell down from the 4h support level and it is highly likely that it will retest that level and close below that level
There shall probably be a bounce however as soon as the price reaches 14.28 level. But it is very likely that it will result in another leg down to daily support.
There shall probably be a bounce however as soon as the price reaches 14.28 level. But it is very likely that it will result in another leg down to daily support.
Note
The price is well on its way to the daily support and very close to hitting that daily support area. Lets watch the reaction of the price once the price hits this daily support level.Trade closed: target reached
The price has hit the level that was marked in the original post. The price has a possibility to bounce from here. I will post a new chart with further analysis showing price action, which has a higher probability, from this level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.