LITUSD Falling Channel| Local Ob| Price Action| Trend

٢١ ديسمبر ٢٠٢١

Evening Traders,

Today’s analysis – LITUSD – trading in a local down trend where follow through is probable,

Points to consider,
- Price Action corrective
- Local OB S/R Resistance
- Daily S/R Support
- RSI Divergence

LITUSD’s immediate price action is corrective and is trading under a Local OB allowing for a bearish bias.

The Daily S/R is the immediate support, testing this level will allow for a potential bounce.

The RSI has a bullish divergence forming, playing out will be indicative of strength in price action.

Overall, in my opinion, LITUSD is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”