It seems like KNC is in another bearish pattern, but smaller. It had a fake bullish breakout the previous time, with a shadow to the major support. This time, there's a small shadow to the support, even though it's not strong enough. However, we still could have a bullish breakout because of this as a sign, especially since the long-term resistance line is broken.
If a bullish breakout happens, the first target will be $0.77. Then, we might see a bounce to $0.38. In that case, an H&S pattern will be confirmed, and we will have to wait for the shoulder to be broken, which will be the current support at $0.55. Alternatively, we could go straight to $0.37, again, confirming H&S pattern.
OR
we might see an attempt to break $0.95 and reach new highs with a lower chance of happening
For now, everything is good as long as KNC holds the $0.55 support.
If a bullish breakout happens, the first target will be $0.77. Then, we might see a bounce to $0.38. In that case, an H&S pattern will be confirmed, and we will have to wait for the shoulder to be broken, which will be the current support at $0.55. Alternatively, we could go straight to $0.37, again, confirming H&S pattern.
OR
we might see an attempt to break $0.95 and reach new highs with a lower chance of happening
For now, everything is good as long as KNC holds the $0.55 support.
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