Chart analysis shows that in the last few days the
Post# of 75010
Posted On: 04/10/2015 10:43:36 AM
Chart analysis shows that in the last few days there has been a channel developing which is shrinking in height. The low end supports for the price have been creeping up from .12 to .14. to .15, while the high end resistance levels have been falling from .20 to .17 to .16.
Today the price channel seems to be resting between .15 and .16, which shows a tightening consolidation that usually happens before a breakout.
If the price can stay above .15 then that is good news.
If the price breaks out above .16 then it should carry an upward momentum. If the price breaks through below .15 then .14 is the next level of support that should stop the price from dropping any further than .14.
Today the price channel seems to be resting between .15 and .16, which shows a tightening consolidation that usually happens before a breakout.
If the price can stay above .15 then that is good news.
If the price breaks out above .16 then it should carry an upward momentum. If the price breaks through below .15 then .14 is the next level of support that should stop the price from dropping any further than .14.
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