This video consist the technical analysis of XNGUSD for the upoming week ( 6-10 December 2021) based on the price action. The market is now in down trend because it has broken and closed below both the neckline of head &shoulder pattern and the deep pullback support of the up trend.
The price is now at the broken resistance which could turn into support.
Bias
If the price forms a false breakout by forming a bullish candle which closes above the support, this will indicate the buyer's interest to push the market up. we will look for buying opportunities until we get a signal that the pullback is over and then we'll look for selling opportunities.
I hope you enjoyed this technical analysis and if you have a market which you want us to analyze with, just write it in the comment section or email us at info@ultimatetraders.rw.
May the market be with you!
Ciao.
Bias
If the price forms a false breakout by forming a bullish candle which closes above the support, this will indicate the buyer's interest to push the market up. we will look for buying opportunities until we get a signal that the pullback is over and then we'll look for selling opportunities.
I hope you enjoyed this technical analysis and if you have a market which you want us to analyze with, just write it in the comment section or email us at info@ultimatetraders.rw.
May the market be with you!
Ciao.
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