$ZEC Retakes the Dip — Preparing for Another Run by Bulls
$490–$491 Support Zone Keeps Its Strength and the Buyers Try to Hold the Pullback
The long position is formed on the basis of the rejection at the $490–$491 support area and recent candles showing the retreat of buyers. The price holding above $491 will provide opportunities for the movement towards $495 resistance and then towards the $497–$499 level.
Here is my trading plan as well: Long
Entry: 491.50 – 493.00
Stop Loss: 488.80
Target 1: 495.00
Target 2: 497.00
Target 3: 499.00
For the continuation of the setup, it is necessary that $ZEC holds $491 level.
A clear breakout above $495 will speed up the uptrend.
Break below $488.80
#OilEdgesHigher
$490–$491 Support Zone Keeps Its Strength and the Buyers Try to Hold the Pullback
The long position is formed on the basis of the rejection at the $490–$491 support area and recent candles showing the retreat of buyers. The price holding above $491 will provide opportunities for the movement towards $495 resistance and then towards the $497–$499 level.
Here is my trading plan as well: Long
Entry: 491.50 – 493.00
Stop Loss: 488.80
Target 1: 495.00
Target 2: 497.00
Target 3: 499.00
For the continuation of the setup, it is necessary that $ZEC holds $491 level.
A clear breakout above $495 will speed up the uptrend.
Break below $488.80
#OilEdgesHigher