Week 26: ZSN2021 Consolidation week
If you are still holding your short position from last week, it is time to manually close it.
The price was stopped at $13.28 area where it formed "W" or mini double-bottom; does this mean a reversal to be bullish?
My upper limit is at $13.82, if the price breaks and close higher that $13.82, then YES, it is likely to be bullish.
However, if the price broke the yellow box / support level, then downtrend will continue.
Therefore, this week we just wait until it breaks, then we follow the market direction.
The price was stopped at $13.28 area where it formed "W" or mini double-bottom; does this mean a reversal to be bullish?
My upper limit is at $13.82, if the price breaks and close higher that $13.82, then YES, it is likely to be bullish.
However, if the price broke the yellow box / support level, then downtrend will continue.
Therefore, this week we just wait until it breaks, then we follow the market direction.
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