Neo is trading sideways after the sharp bounce off the horizontal support
by the Monthly R1 at 96, which also aligned with the SMA200. Currently
we see an attempt to reach the upper end of the Cloud. The projected
Cloud is bearish which will add resistance at that level, 156-60 zone.
If price breach it we might see a spike with a return to the Cloud
for a retest from above, or a return inside. If price leave the Cloud
behing it will be a very strong signal and which will likely lead price
to the previous high and the Weekly R1 at 198 and 210.
If price bounce off the upper Cloud and breakout lower we are
looking at 117 and below that the swing low around 90.
by the Monthly R1 at 96, which also aligned with the SMA200. Currently
we see an attempt to reach the upper end of the Cloud. The projected
Cloud is bearish which will add resistance at that level, 156-60 zone.
If price breach it we might see a spike with a return to the Cloud
for a retest from above, or a return inside. If price leave the Cloud
behing it will be a very strong signal and which will likely lead price
to the previous high and the Weekly R1 at 198 and 210.
If price bounce off the upper Cloud and breakout lower we are
looking at 117 and below that the swing low around 90.
Комментарий:
Price failed to breakout higher and is seeking support by the lower Cloud and 1.39 (Daily S1). A close below the Cloud may trigger more downside, next support intraday, 1.28 and then 116