Z1P Touch Down before Take off?
Levels to watch for Z1P :
Current consolidation area inside the highlighted box (7.40 - 6.70).
Recent bounce from 6.30 to 7.8 spike just below the 50% level from march '20 Low.
It is unlikely looking at the chart and the price action that it will make higher moves anytime now.
Looks short term Bearish.
Possibly will touch 5.77- 6.00 area first before it makes any substantial leg up. Looking for buying opportunity there.
Disclaimer: Not a financial advice.
Current consolidation area inside the highlighted box (7.40 - 6.70).
Recent bounce from 6.30 to 7.8 spike just below the 50% level from march '20 Low.
It is unlikely looking at the chart and the price action that it will make higher moves anytime now.
Looks short term Bearish.
Possibly will touch 5.77- 6.00 area first before it makes any substantial leg up. Looking for buying opportunity there.
Disclaimer: Not a financial advice.
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