After reaching all-time-high around 64.6, SKX has been selling off as low as 47.7 which coincide with downtrend channel bottom.
With price above 8,20,50 & 200ema currently, it looks set to make another launch to break the 1st resistance level which gotten rejected twice before.
This 2-in-1 resistance (horizontal level + downtrend channel top) @ 55.06 will be the hard nut to crack. Another failure to break out convincingly could see price falling to the bottom of channel lower than 47.74.
With price above 8,20,50 & 200ema currently, it looks set to make another launch to break the 1st resistance level which gotten rejected twice before.
This 2-in-1 resistance (horizontal level + downtrend channel top) @ 55.06 will be the hard nut to crack. Another failure to break out convincingly could see price falling to the bottom of channel lower than 47.74.