-ZK failed to hold above 7 dollar area last week and now trading around 5 dollars -This is technically not a good sign in terms of price action -The good news is the price is reacting at the 20MA in the 6D time frame -ZK bounces from this Moving Average the first time it tested last April 19 -The 5 dollars key support area and with the confluence of 20MA -May act as a good demand zone if the history repeats itself again -The price has been in a decline action since March 23 and retraced by -66% -I'm still expecting another attempt to push above 7 dollars -Before deciding if the trend can continue higher or start to end the cycle -The 4.87 dollars is my invalidation level as long as this price holds -If the trend is still our friend, we will try to trade our bias until the cycle ends -As always, please manage your risk and follow your trading plan -See you and stay safe everyone!
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