REP in descending Triangle??? To $7
Hello REP Traders!
I am new to REP but I wanted to check out the current state of the market and see what might be happening within the next couple of weeks. Just a simple analysis on the day chart, it looks like we are in a descending triangle. The recent price action I think supports this with a move downward. Possibly falling to the bottom of the triangle at $7.06. The RSI also supports this formation. I show a downward motion at the point of the triangle because of the fact that a descending triangle is predominately a bearish formation. Because of the length of time left before we will know for sure I am neutral.
Tell me what you guys think! Trade safe and please do not trade based on this.
Thanks,
- Max K.
I am new to REP but I wanted to check out the current state of the market and see what might be happening within the next couple of weeks. Just a simple analysis on the day chart, it looks like we are in a descending triangle. The recent price action I think supports this with a move downward. Possibly falling to the bottom of the triangle at $7.06. The RSI also supports this formation. I show a downward motion at the point of the triangle because of the fact that a descending triangle is predominately a bearish formation. Because of the length of time left before we will know for sure I am neutral.
Tell me what you guys think! Trade safe and please do not trade based on this.
Thanks,
- Max K.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.