Hello traders, NVENT ELECTRIC PLC is in a bearish dynamic fake with a long upside down hammer candle with a fake return of sell volume executed. Looking at the TIMEFRAME M1 we see a shape of a hammer candle upside down with a high volume of sales issued, it has come to test the bottom of the comfort zone. To go on its last low point with a possible check of the low of the short-term bollinger make its swallow.
And test the different levels of the bollinger plus the VWAP to access the top of the area to check it again. There is a great chance of breaking the price with the return of momentum to arrive at the same time in a following zone of stabilization and to reach the coming high. To recover the losses of the day before, it was impossible to test the long-term compression zone. As well as long term resistance, not enough buying force at the moment.
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And test the different levels of the bollinger plus the VWAP to access the top of the area to check it again. There is a great chance of breaking the price with the return of momentum to arrive at the same time in a following zone of stabilization and to reach the coming high. To recover the losses of the day before, it was impossible to test the long-term compression zone. As well as long term resistance, not enough buying force at the moment.
Please LIKE & FOLLOW, thank you!