Since our previous NEO review and change of recommendation to "Sell", the price has fallen from $ 130 to $ 70, but then it again climbed above the $ 100 level.
The volume of trading fell sharply and the rate is caught between $ 95 and $ 125.
There is a consolidation in a narrow range.
The further perspective is unclear and here’s why:
On the daily chart, the trend is falling and further decline is more likely.
On the weekly, everything is exactly the opposite.
Since a larger scale chart has an advantage in the TA forecasting, the upward exit out of consolidation is still more likely.
However, in any case, it is better to wait for the exit from the range before opening the position.
So: we buy in case of a confident exit of the rate up from $ 125 and sell in case of a confident exit below $ 95
The volume of trading fell sharply and the rate is caught between $ 95 and $ 125.
There is a consolidation in a narrow range.
The further perspective is unclear and here’s why:
On the daily chart, the trend is falling and further decline is more likely.
On the weekly, everything is exactly the opposite.
Since a larger scale chart has an advantage in the TA forecasting, the upward exit out of consolidation is still more likely.
However, in any case, it is better to wait for the exit from the range before opening the position.
So: we buy in case of a confident exit of the rate up from $ 125 and sell in case of a confident exit below $ 95
