After a months of price falling, at last it landed at EMA200, which can be a very strong support line if we based on the past record.
Similar horizontal support can be recognized at 21Oct22 and 15Nov22.
If we look at RSI Indicator, we can see RSI is forming a cup pattern which is showing over selling momentum is over.
However, for more confirmation, you can wait for price break up $77.87 and set your stop loss at $76.21 where risk controlled within 5%.
Feel free to express your ideas and thoughts in the comment section. Give me a like and share it to your friends if you like my sharing!
Similar horizontal support can be recognized at 21Oct22 and 15Nov22.
If we look at RSI Indicator, we can see RSI is forming a cup pattern which is showing over selling momentum is over.
However, for more confirmation, you can wait for price break up $77.87 and set your stop loss at $76.21 where risk controlled within 5%.
Feel free to express your ideas and thoughts in the comment section. Give me a like and share it to your friends if you like my sharing!