LTCUSD approaching major resistance, prepare for potential drop!

2018年2月7日

LTCUSD has risen to major resistance at 149.41 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension, descending resistance) and a strong reaction could occur at this level to drive price down to at least 108.41 support (Fibonacci extension, horizontal swing low support). Our long term descending resistance line is also adding a lot of bearish momentum to this setup.

Stochastic (21,5,3) is seeing major resistance at 99% where a corresponding reaction could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.