We may derive the following from the Monthly NED chart:
1. Price has dropped significantly over the past few months (see linked idea) and has reached a short target.
2. At present, we have reached a major monthly demand zone (orange box).
3. It is however, pre-mature to buy. Wait for an opportunity to present itself first - being a reversal formation (bottom) .
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
1. Price has dropped significantly over the past few months (see linked idea) and has reached a short target.
2. At present, we have reached a major monthly demand zone (orange box).
3. It is however, pre-mature to buy. Wait for an opportunity to present itself first - being a reversal formation (bottom) .
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
