$VELVET Strong Support Hold... Buyers Stepping Back In...
$VELVET — LONG
TP: 1.1500
Stoploss: 0.9200
Why this setup?
Because $VELVET is showing great strength and rebounding nicely after successfully defending support near the 0.7927 low. On the chart, the MACD reveals momentum shifting positive with DIF at 0.0247 and DEA at 0.0188, and the RSI(6) at 55.37 points out that buyers are returning to drive prices higher following the recent consolidation. With steady buying pressure building up, an upward continuation is expected.
Trade here ⬇️
$VELVET — LONG
TP: 1.1500
Stoploss: 0.9200
Why this setup?
Because $VELVET is showing great strength and rebounding nicely after successfully defending support near the 0.7927 low. On the chart, the MACD reveals momentum shifting positive with DIF at 0.0247 and DEA at 0.0188, and the RSI(6) at 55.37 points out that buyers are returning to drive prices higher following the recent consolidation. With steady buying pressure building up, an upward continuation is expected.
Trade here ⬇️