What Bollinger Bands Reveal About SHELL
A Coinotag technical snapshot for SHELL futures around November 12 reported the following Bollinger Bands (20,2):
Lower band: approximately $0.0181
Middle band: approximately $0.0222
Upper band: approximately $0.0263
Bollinger Bands measure price volatility around a moving average. The distance between the upper and lower bands expands when volatility increases and contracts when volatility decreases.
With the reported price around 0.0193–0.0194, SHELL was trading relatively close to the lower band.
This is consistent with weak recent price momentum. However, trading near the lower band does not guarantee a rebound. In a strong downtrend, price can remain close to the lower band for an extended period.
The indicator is most useful when interpreted together with volume and the broader trend.
#BollingerBands #Volatility #CryptoEducation
A Coinotag technical snapshot for SHELL futures around November 12 reported the following Bollinger Bands (20,2):
Lower band: approximately $0.0181
Middle band: approximately $0.0222
Upper band: approximately $0.0263
Bollinger Bands measure price volatility around a moving average. The distance between the upper and lower bands expands when volatility increases and contracts when volatility decreases.
With the reported price around 0.0193–0.0194, SHELL was trading relatively close to the lower band.
This is consistent with weak recent price momentum. However, trading near the lower band does not guarantee a rebound. In a strong downtrend, price can remain close to the lower band for an extended period.
The indicator is most useful when interpreted together with volume and the broader trend.
#BollingerBands #Volatility #CryptoEducation