$UNI 10/9 Evening outlook: straight to the point. If you're already holding long positions, watch the area around 7.5.
Technical analysis:
The price at 7.325 has fallen below both the 4-hour and 1-hour moving averages. All the moving averages are aligned bearishly and weighing on the price. The lower Bollinger Band at 7.37 has also been breached, with the price hugging the lower band, indicating that the decline is continuing rather than finding a bottom. The 4-hour RSI is only 28, so an oversold rebound is possible, but being oversold only means the drop has been sharp—it doesn't mean the price has bottomed. The MACD is still negative.
Xinhuo strategy:
Aggressive traders: Enter a short position at the current price; add to it around 7.8.
Conservative traders: Wait for the price to consolidate around 7.8 before entering a short position.
(For precise entry timing, @鑫火首席—the risk-reward ratio is exceptionally favorable.)
Technical analysis:
The price at 7.325 has fallen below both the 4-hour and 1-hour moving averages. All the moving averages are aligned bearishly and weighing on the price. The lower Bollinger Band at 7.37 has also been breached, with the price hugging the lower band, indicating that the decline is continuing rather than finding a bottom. The 4-hour RSI is only 28, so an oversold rebound is possible, but being oversold only means the drop has been sharp—it doesn't mean the price has bottomed. The MACD is still negative.
Xinhuo strategy:
Aggressive traders: Enter a short position at the current price; add to it around 7.8.
Conservative traders: Wait for the price to consolidate around 7.8 before entering a short position.
(For precise entry timing, @鑫火首席—the risk-reward ratio is exceptionally favorable.)