Sokoman Iron, at a great buying point
-Completed full Elliott wave impulse and correction following strong fundamental
-Followed by a bearish Head and Shoulders pattern resulting in negative price action
-Fundamental (strong news - but interpreted poorly by market participants) resulting in panic sell over past 2 days. Price action preceded fundamental
-RSI oversold on hourly - reversal imminent pending volume
-Strong volume buying in morning hours after gap down - market is resistant
-Low volume selling after gap down - reversal imminent
-Support lies at .175 (23.6% fibonacci level)
- Overhead resistance at .24-.255 (gap) and .30 (Head and Shoulders neckline)
And of course, the most important indicator - bears are cocky and bulls are being chastised :)
-Followed by a bearish Head and Shoulders pattern resulting in negative price action
-Fundamental (strong news - but interpreted poorly by market participants) resulting in panic sell over past 2 days. Price action preceded fundamental
-RSI oversold on hourly - reversal imminent pending volume
-Strong volume buying in morning hours after gap down - market is resistant
-Low volume selling after gap down - reversal imminent
-Support lies at .175 (23.6% fibonacci level)
- Overhead resistance at .24-.255 (gap) and .30 (Head and Shoulders neckline)
And of course, the most important indicator - bears are cocky and bulls are being chastised :)
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.