After reaching all-time-high around 64.6, SKX has been selling off as low as 47.7 which coincide with downtrend channel bottom.
With price above 8,20,50 & 200ema currently, it looks set to make another launch to break the 1st resistance level which gotten rejected twice before.
This 2-in-1 resistance (horizontal level + downtrend channel top) @ 55.06 will be the hard nut to crack. Another failure to break out convincingly could see price falling to the bottom of channel lower than 47.74.
With price above 8,20,50 & 200ema currently, it looks set to make another launch to break the 1st resistance level which gotten rejected twice before.
This 2-in-1 resistance (horizontal level + downtrend channel top) @ 55.06 will be the hard nut to crack. Another failure to break out convincingly could see price falling to the bottom of channel lower than 47.74.
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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.