AFTER LOCKDOWN IMPULSE SHOPIFY IS RANGING - SHOPIFY - DAILY
The price has clearly moved up from February this year. There is a strong correlation between the pandemic global issue and the increase in price.
2020 has been a game changer and we have noticed that the market went up before finding a strong resistance illustrated by the horizontal red line.
Market price is still evolving along the main blue trending line, but might need to push down to the lower level of the new horizontal range created before testing again to break the red resistance.
Overall there a strong probability to see the market price break the red support line, any point close to the bottom support line of the new range is probably a good long entry point.
2020 has been a game changer and we have noticed that the market went up before finding a strong resistance illustrated by the horizontal red line.
Market price is still evolving along the main blue trending line, but might need to push down to the lower level of the new horizontal range created before testing again to break the red resistance.
Overall there a strong probability to see the market price break the red support line, any point close to the bottom support line of the new range is probably a good long entry point.