After OMG has reboundes from the resistance line (fib level 78.6% ~ 10.85$) it has fallen through the whole fib zone till it touched fib level at 61.8% (8.59$).
It has just reached an important zone: long ascending trendline coming from november 08 and the resistance line.
If OMG has enough power to stay above (we´ll see it this day), then it could have rising courses to at least the last high.
But if it crosses the resistance line it could continue to fall to 6.60$ (crossing point of two trend lines).
MACD: just triggered! this is a negative signal
RSI: neutral but falling
Nevertheless, I see some chances that OMG will regain force and stay above the mentioned resistance line. And in this case we could have a good buy opportunity.
Whatever direction is taken, I always wait at least one 4h-bar for confirming!
It has just reached an important zone: long ascending trendline coming from november 08 and the resistance line.
If OMG has enough power to stay above (we´ll see it this day), then it could have rising courses to at least the last high.
But if it crosses the resistance line it could continue to fall to 6.60$ (crossing point of two trend lines).
MACD: just triggered! this is a negative signal
RSI: neutral but falling
Nevertheless, I see some chances that OMG will regain force and stay above the mentioned resistance line. And in this case we could have a good buy opportunity.
Whatever direction is taken, I always wait at least one 4h-bar for confirming!
Trade closed: target reached
OMG has reached upper fib retracement
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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.