Impala has been on a short term downtrend since reaching a high of R309.20
Price has now arrived at the 200day on the weekly and a possible support zone for a some relief. The last time price reacted on the moving average was at the covid lows of March 2020.
Above R185 could stage a decent pullback and will trigger a 2B reversal trade. Better entries will be possible on the lower timeframes for the bulls.
The swing low will need to hold here or else a bigger double top will be in play.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Price has now arrived at the 200day on the weekly and a possible support zone for a some relief. The last time price reacted on the moving average was at the covid lows of March 2020.
Above R185 could stage a decent pullback and will trigger a 2B reversal trade. Better entries will be possible on the lower timeframes for the bulls.
The swing low will need to hold here or else a bigger double top will be in play.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.