Notes: Newbie trying to learn technical analysis and not a financial advice. Please comment if you think there is any incorrect point on the analysis. Thank you.
1. The downward trend is broken on the 20th of January, and so the resistance is now support.
2. Hitting the first resistance at (2.30 - 2.35) and went back to retest the support at around (2.15 - 2.20).
3. Support holds successfully and now a higher low has formed and it is going upwards again.
4. Today it was trying to break through the (2.30 - 2.35) resistance again and it has successfully stayed above 2.30.
5. Potential entry point will be to wait for a pullback to test the support at (2.30-2.35)
1. The downward trend is broken on the 20th of January, and so the resistance is now support.
2. Hitting the first resistance at (2.30 - 2.35) and went back to retest the support at around (2.15 - 2.20).
3. Support holds successfully and now a higher low has formed and it is going upwards again.
4. Today it was trying to break through the (2.30 - 2.35) resistance again and it has successfully stayed above 2.30.
5. Potential entry point will be to wait for a pullback to test the support at (2.30-2.35)