Sand is incredibly bearish. There is nothing about this chart that suggests this asset will gain value any time soon.
Reasons why it's bearish
- In a downward channel for over 2 months with no threat of breaking it.
- Just broke 80c support and backtested it as resistance.
- Both the RSI and MACD look set for negative growth.
The short will be active until the channel is broken to the upside and it leads to a break back above 80c and holds it as support.
I will not exit the trade if the SL hits unless I see this^.
Reasons why it's bearish
- In a downward channel for over 2 months with no threat of breaking it.
- Just broke 80c support and backtested it as resistance.
- Both the RSI and MACD look set for negative growth.
The short will be active until the channel is broken to the upside and it leads to a break back above 80c and holds it as support.
I will not exit the trade if the SL hits unless I see this^.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.