CRON Key Level Broken| Increase In volume| EMA Cross

١٧ يناير ٢٠٢٠

Quick update on CRON, which has broken a key resistance level, now potential support upon retest

Points to consider,
- Trend change with Higher High
- Structural resistance broken
- RSI diverging
- Stochastics in upper regions
- EMA’s support
- Volume increasing

Higher high has come to fruition; this is the first time in CRON’s bear trend, signalling a potential reversal.

Structural resistance broken, now support upon a confirmed S/R flip retest. Stochastics in upper regions can stay here for an extended period of time, however lots of stored momentum to the downside.

RSI diverging, confirming a bullish divergence as CRON puts in lower lows. EMA’s cross bullish, first time this has happened in the downtrend for CRON.

Volume is visibly increasing confirming a technical level is being tested, this needs to sustain for a bullish continuation.

Overall, in my opinion, CRON has healthy volume coming at key resistance now potential support. A continuation is probable, confirming the macro trend change.

What are your thoughts?

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And remember

“There is a huge amount of freedom that is derived from not fighting the market.”
― Yvan Byeajee,